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Manufacturing/Make in India

Government takes Series of Measures to Incentivize the Manufacturing Sector

  • Production Linked Incentive scheme: For enhancing India’s Manufacturing capabilities and exports, an outlay of Rs 1.97 lakh crore (€23.2 billion) has been announced in Union Budget 2021-22 for production linked incentive scheme for 13 key sectors for 5 years starting from fiscal year 2021-22.

  • Ease of doing business and compliance burden: Initiatives taken for compliance reduction are focused on simplifying and digitizing various processes, reduction in documents in documents to be submitted along with applications, reduction in frequency of inspections, etc. 

  • Foreign Direct Investment (FDI): 100% FDI is permitted in manufacturing sector under automatic route.

  • Public Procurement: To promote domestic investment and usage of made in India products by the government, the public procurement (Preference to Make in India) order has been revised on 16.09.2020

  • Industrial Corridor: The National Corridor Program (NICP) has been conceived to promote world class manufacturing facilities and develop futuristic industrial cities in India.   

Make in India initiative focuses on 27 sectors under 2.0

Minister of State in the Ministry of Commerce and Industry said that Make in India initiative has made significant achievements and presently focuses on 27 sectors under Make in India 2.0. Department for Promotion of Industry and Internal Trade is coordinating action plans for manufacturing sectors, while Department of Commerce is coordinating service sectors. Accordingly, the Govt. is making continuous efforts under Investment Facilitation for implementation of Make in India action plans to identify potential investors. Investment Outreach activities are being carried out for enhancing international co-operation for promoting FDI and improve Ease of Doing Business in the country.

TAGS #ministry