Make in India initiative

Why in News?

• Over a dozen “restrictive and discriminatory” conditions which prevented local suppliers from participating in the bidding process were recently flagged by the Union Government to boost ‘Make in India’ initiative

Highlights

• These conditions were in violation of the Public Procurement (Preference to Make in India) Order, 2017, issued to protect the interests of local suppliers and to promote manufacturing and production of goods and services in India with a view to enhance income & employment.
•  Make in India aims to transform the country into a leading global manufacturing and investment destination.
• It is being led by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Government of India.
• The initiative is an open invitation to potential investors and partners across the globe to participate in the growth story of ‘New India’.
• Make In India has substantial accomplishments across 27 sectors under Make in India 2.0 which include strategic sectors of manufacturing and services as well.
• To attract foreign investment for new industrialisation and develop the already existing industry base in India to surpass that of China.
• Target of an increase in manufacturing sector growth to 12-14% per annum over the medium term
• To increase the share of manufacturing sector in the country’s Gross Domestic Product from 16% to 25% by 2022
• To create 100 million additional jobs by 2022.
• To promote export-led growth.