Indian government has launched MakeInIndia, a campaign that focuses on homegrown innovation and industries. Government has identified 25 sectors in which India can become a global leader.
Government’s Goal : To move ‘doing business in India’ ranking from 134 to 50 in 3 years.
The governmetn has menioned that it is fully committed to de-licensing, deregulating and taking India to high growth trajectory. Government will identify select domestic companies who have demonstrated leadership in innovation & new technology. Govt has created a dedicated team to help investors.
Identified industries for MakeInIndia programme are:
Key highlights (and these are claims, right now)
Doing business in India just got easier – new de-licensing and deregulation measures are reducing complexity, and significantly increasing speed and transparency.
- Process of applying for Industrial License & Industrial Entrepreneur Memorandum made online on 24×7 basis through eBiz portal.
- Validity of Industrial license extended to three years.
- States asked to introduce self-certification and third party certification under Boilers Act.
- Major components of Defence products’ list excluded from industrial licensing.
- All returns should be filed on-line through a unified form.
- A check-list of required compliances should be placed on Ministry’s/Department’s web portal.
Infrastructure Support
- Impetus on developing Industrial Corridors and Smart Cities.
- A new ‘National Industrial Corridor Development Authority’ is being created to coordinate, integrate, monitor and supervise development of all Industrial Corridors.
- Work on 5 smart cities in progress as a part of the Delhi-Mumbai Industrial Corridor: Dholera, Shendra-Bidkin, Greater Noida , Ujjain and Gurgaon?.
- Chennai-Bengaluru Industrial Corridor: master Planning for 3 new Industrial Nodes [Ponneri (TN), Krishnapatnam (AP), Tumkur (Karnataka)] in progress.
- The East Coast Economic Corridor (ECEC) with Chennai-Vizag Industrial Corridor as the first phase of this project: Feasibility Study commissioned by ADB.
- Amritsar-Kolkata Industrial Corridor: DMICDC selected as Nodal Agency for doing Feasibility Study, which is being conducted at fast pace.
FDI & NEW POLICIES
- Policy in Defence sector liberalised and FDI cap raised from 26% to 49%.
- Portfolio investment in Defence sector permitted up to 24% under the automatic route.
- 100% FDI allowed in Defence sector for modern and state of the art technology on case to case basis.
- 100% FDI under automatic route permitted in construction, operation and maintenance in specified Rail Infrastructure project.
On a lighter note, the MakeInIndia.com site is beautifully done ! A refreshing change from running tickers. We curated some of the inspiring lion for you!!