Make In India- Important Facts
The mind-blowing facts about Make In India that every Indian should read about.
Make In India, a brainchild of PM Narendra Modi, is anticipated to be the most significant change for India’s economy. The enormous project is designed to attract foreign investments to boost local entrepreneurs and develop brand value globally. As proud as we are of the big label, here are some interesting facts about Make In India that amazes us the most.
- Easy Business-
India ranks 130 among the 189 countries doing easy business. The substantial rise in ranking has made it possible for doing easy and hassle-free business in the country. The reforms have been made to relate policies and mandatory credentials for imports and export.
- Coordination-
Make In India project has recommended effective coordination between state officials and bureaucrats from central. To set up a hitch-free composition eases, setting business and commerce in the whole country. Reducing the Regulatory Requirement has demonstrated assess a social situation in the state that encourages competitive federalism.
- Industrial Infrastructure-
Business-friendly infrastructure plays a significant role in forming corridors and apprehending a significant point under a government initiative. The government’s initiative to set up the National Industrial Corridor Development Authority (NICDA) to comprehensively administer the growth of the manufacturing corridors and industrial clusters has helped develop the commerce manifolds.
- Indian Intellectual Property Rights –
The prime agenda of the project is more than just attracting foreign business. Cheering innovation of the budding enterprises is what the project stands for. After establishing the Indian Intellectual Property Rights (IPR), the collaboration between domestic and international companies and partnership between public and private are adequately protected.
- Foreign Direct Investment-
Strongly impacting on the FDI, the consequence results in inflow in the manufacturing sector. It rose substantially by 23 per cent in the fiscal year 2014-15 even though it has fallen by 16% internationally. The particular sectors like electronics, automobiles and telecom are leading and receiving investments. Out of 25 industries, defee3nse and news media are not listed in the FDI program.
- Investor Facilitation Cells-
To provide all comprehensive information to the investor, the Investors Facilitation cells are set up at the Federation of Indian Chambers of Commerce and Industry. The cells provide information across all sectors and follow up data from all department agencies of the government. The investing community fixes all appointments of investors with different departments and agencies.