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Vijaya Pushkarna
Vijaya Pushkarna

INDUSTRY

Govt revamps Make in India policy to explore new markets

Make-In-India-Logo Make in India logo via Commons

Modi government's pet programme, Make in India, has shifted course from the original sectors identified for it, to exploring new markets and new products as well as increasing India's share in the traditional markets. The new emerging focus sectors under ‘Make in India’ include aerospace and defence, biotechnology, information communication and telecom equipment manufacturing, new and renewable energy.

The Make in India initiative was launched on September 25, 2014 with the objective of facilitating investment, fostering innovation, building best in class manufacturing infrastructure, making it easy to do business and enhancing skill development.

Stating this in a written reply in the Rajya Sabha on Wednesday, Commerce and Industry Minister Suresh Prabhu said this was done following a mid-term review of the Foreign Trade Policy earlier this month.

The government also intends leveraging benefits of GST by exporters and closely monitoring the performances of export sector, and using state of the art data analysis for constant corrective measures aimed at increasing the ease of trading across borders.

Agriculture sector will have an important role to play in the revamped Make in India programme with agri-based exports getting a big push, along with exports from MSMEs.

There will also be focus on labour intensive sectors to increase employment opportunities for youth.

According to Prabhu, “Through its foreign trade policy, government envisages employment creation in both manufacturing and services, production of zero defect products with a focus on quality and standards along with a focus on higher value addition and technology infusion.” Prabhu said the Make in India initiative have led to record FDI inflow of $60 billion in 2016-17.

As a result of the simplification and rationalisation of existing rules India’s ranking has gone up by 30 places to 100th in World Bank Group’s ‘Doing Business 2018: Reforming to Create Jobs’ report, added Prabhu.

The government plans major initiatives taken in food processing sector. This includes the setting up 7 mega food parks creating more than 36,000 jobs by the year end. In all 100 Cold Chain Projects with 3.69 lakh tonnes food processing capacity and creation of 47 quality testing food labs are also part of the deal.

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