Search

Make in India: List of sectors, Objectives and Budget Allocation

Make in India Programme was launched by PM Modi on 25 September 2014 to encourage companies to manufacture their products in India. The basic objective of this plan was to increase the share of the manufacturing sector in the Indian GDP.
Apr 28, 2020 16:03 IST
facebook Iconfacebook Iconfacebook Icon
Make in India
Make in India

Make in India is a “Be Indian and Made Indian” type of Swadeshi movement; covering 25 sectors of the economy. This plan was launched by the Government of India on 25 September 2014 to encourage companies to manufacture their products in India.

The sole motive of this plan is to convert India into a Global Manufacturing Hub.

In order to invite foreign manufacturers in the country, the Government of India has allowed 100% Foreign Direct Investment (F.D.I.) in key sectors of the economy.

As per the current policy, 100% FDI permitted in all the 25 sectors covered in the "Make in India" plan, except for media (26%), defence (49%) and space (74%)).

List of sectors covered under the “Make in India” is as follows;

   S.N.

             Sector

 1.

 Automobiles

 2.

 Auto components

 3.

 Aviation

 4.

 Biotechnology

 5.

 Chemicals

 6.

 Construction

 7.

 Defense manufacturing

 8.

 Electrical machinery

 9.

 Electronic system design and manufacturing

 10.

 Food processing

 11.

 IT and BPM

 12.

 Leather

 13.

 Media and entertainment

 14.

 Mining

 15.

 Oil and gas

 16.

 Pharmaceuticals

 17.

 Ports

 18.

 Railways

 19.

 Renewable energy

 20.

 Roads and highways

 21.

 Space

 22.

 Textiles

 23.

 Thermal power

 24.

 Tourism & Hospitality

 25.

 Wellness

Currently, manufacturing sector is contributing around 16% in the Indian GDP but the government of India wants to make it 25% by 2022. It is worth mentioning here that the manufacturing sector is contributing around 34% share in the Chinese GDP

Another objective of Make in India is to create 100 million additional manufacturing jobs in the economy by 2022.

The launch of “Make in India” is showing some positive results because, after the launch of the plan, India received investment commitments worth US$250 billion and investment inquiries worth US$23 billion between September 2014 to February 2016.

Budget Allocation for Make in India in Union Budget 2020-21

The total allocation for the Make in India programme was Rs 651.58 crore in 2019-20. In the Union Budget 2020-21, total allocation for the same increased to Rs 1,281.97 crore.

 In conclusion, it can be said that make in India is a good initiative by the government of India and it can convert India from an importing economy into an exporting economy.

List of Public Sector Banks which have the highest share in NPA

Mutual Fund: Meaning, Types, and role in the development of the economy?

Related Categories