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Make in India

Talks about Make in India program through export promotion and import substitution

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Make in India

  1. 1. Make in India Presented by Ameya Patil 11/4/2016Copyright: Ameya Anil Patil
  2. 2. Conceptual framework of ‘Make in India’ Impact of Make in India Need and importance of Make in India Suggestions 11/4/2016Copyright: Ameya Anil Patil
  3. 3. Conceptual framework  India  Primary sector->Service sector  As opposed to Three sector economic theory A major new national program designed to transform India into a global manufacturing hub called as ‘Make in India’ 11/4/2016Copyright: Ameya Anil Patil
  4. 4. The Campaign  Honourable Prime Minister ,Narendra Modi hinted towards the initiative in his Independence Day speech of 15 August 2014,which was launched on 25 September 2014  twenty four manufacturing cities or hubs will be created which will be an epitome of development, sustainability and connectivity. 11/4/2016Copyright: Ameya Anil Patil
  5. 5. Why Make in India  Job creation  Skill enhancement  Make India a developed economy  Increase in GDP growth  Tax revenues for the Government  High quality standards  Minimise the impact on the environment  Attract capital and technological investment in India  Make India self-dependent 11/4/2016Copyright: Ameya Anil Patil
  6. 6. What can we make in India  25 sectors of the economy have been identified  These sectors include automobiles, chemicals, IT, pharmaceuticals, textiles, ports, aviation, leather, tourism and hospitality, wellness, railways, design manufacturing, renewable energy, mining, bio- technology, and electronics 11/4/2016Copyright: Ameya Anil Patil
  7. 7. What can we make in India Contd.  Import Substitution  Export Promotion 11/4/2016Copyright: Ameya Anil Patil
  8. 8. Impact of Make in India ---Foreign Investments  Chinese handset maker Vivo to open manufacturing plant in Noida in 3-4 months'  Talgo keen to enter India's manufacturing space; to bring train from Spain for demo runs at own cost  'Warburg Pincus set to invest INR 1,800 Cr in Piramal Realty  Sony Corp inks pact to manufacture Bravia line of TVs at Foxconn’s plant near Chennai  'Lava to invest INR 2,615 Cr over 7 yrs to set up 2 manufacturing units in India 11/4/2016Copyright: Ameya Anil Patil
  9. 9. Impact of Make in India Contd.  Domestic Investments-- Hardly any progress  Economic Indicators - GDP 11/4/2016Copyright: Ameya Anil Patil
  10. 10. How to Make in India  Addressing challenges: 1.Challenges on domestic front 2. Challenges with respect to International trade 11/4/2016Copyright: Ameya Anil Patil
  11. 11. How to Make in India-Challenges  Infrastructural challenges  Regulatory challenges  Operational challenges 11/4/2016Copyright: Ameya Anil Patil
  12. 12. How to Make in India -Solutions  Exports as a priority sector  Exploit huge coastline  Procedure for tax refunds should be simplified  Procedure for tax refunds should be simplified  Simplified licensing rules  Single-window clearance system  Expedition for GST(Gooods and Service tax) framework and DTC(Direct tax code) 11/4/2016Copyright: Ameya Anil Patil
  13. 13. How to Make in India –Modular Approach  Develop individual regions in India and thereby exploit each centre’s comparative advantage  ‘Make in Maharashtra’,’Make in Punjab’  ’Solapuri Chahdar’,’Oranges from Nagpur’ ‘Kolhapuri Chappal’  Centres of excellence  Advantages of specialization and economies of scale 11/4/2016Copyright: Ameya Anil Patil
  14. 14. How to Make in India –Facilitators  Flexibilty in working hours  Relaxation of labour laws  Process of application of Industrial licenses to be simplified through e-Biz portal  The portal will help companies to seek policy clarifications within 72 hours.  Validity of industrial licenses has been extended to 3 years from earlier 1 year. 11/4/2016Copyright: Ameya Anil Patil
  15. 15. Conclusion  Ambitious campaign  Lot of benefits if implemented successfully Developing countryDeveloped country  Identification of proper sectors-Import substitution and export promotion  Address infrastructure,regulatory and operational challenges  Modular approach 11/4/2016Copyright: Ameya Anil Patil
  16. 16. Thankyou 11/4/2016Copyright: Ameya Anil Patil