Question: What are the benefits of make in India plan?

What is the main purpose of Make in India?

Make in India initiative was launched by Prime Minister Narendra Modi on September 25, 2014, at Vigyan Bhawan, New Delhi. The main aim of this initiative is to make India a global manufacturing hub by encouraging both multinational as well as domestic companies to manufacture their products within the country.

What are the plans of Make in India?

“Make in India” had three stated objectives:

  • to increase the manufacturing sector’s growth rate to 12-14% per annum;
  • to create 100 million additional manufacturing jobs in the economy by 2022;
  • to ensure that the manufacturing sector’s contribution to GDP is increased to 25% by 2022 (later revised to 2025).

The idea was to encourage more and more foreign companies to manufacture their products in India. To achieve the above end, Make in India initiative was given a face in the form of a logo, which is a silhouette of a lion on the move. It is made of cogs and symbolises manufacturing.

What are the main features of Make in India?

Details of achievements under Startup India Initiative

  • Intellectual Property Rights (IPR) benefits: …
  • Easing Public Procurement. …
  • Self-Certification under Labour and Environmental laws. …
  • Tax Exemption to Startups for 3 years. …
  • Tax Exemption on Investments above Fair Market Value. …
  • Faster Exit for Startups.
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Why choose make India?

The Make in India programme is very important for the economic growth of India as it aims at utilising the existing Indian talent base, creating additional employment opportunities and empowering secondary and tertiary sector. … The focus of Make in India programme is on 25 sectors.

Which sector is not covered in Make in India?

2. Which of the following sector is not covered in the Make in India programme? Explanation: Education comes under the service sector and Make in India programme targets the manufacturing sectors. 3.

What are the four pillars of Make in India?

But it is Narendra Modi, who within a matter of months, launched the ‘Make in India’ campaign to facilitate investment, foster innovation, enhance skill development, protect intellectual property & build best in class manufacturing infrastructure.