The Make in India initiative has been built on layers of collaborative effort of DIPP, acting as a backbone with Union Ministers, Secretaries to the Government of India, state governments, industry leaders, and various knowledge partners to debate and formulate an action plan for the next three years, aimed at raising the contribution of the manufacturing sector to 25% of the GDP by 2020.
Opening up of key sectors like Railways, Defence, Insurance and Medical Devices – for higher levels of Foreign Direct Investment. The ministry tie up with the World Bank group to identify areas of improvement aligned to World Bank’s ‘doing business’ methodology. An Investor Facilitation Cell (IFC) dedicated for the Make in India campaign was formed with an objective to assist investors in seeking regulatory approvals, hand-holding services through the pre-investment phase, execution and after-care support. DIPP has set up Japan Plus’ team to facilitate and fast track investment proposals from Japan, similarly Korea Plus’, also being launched. Liberalised regulatory policies to facilitate investments and ease of doing business. Setting up of six industrial corridors across country, where Industrial Cities will be developed along these corridors. Since the launch of Make in India FDI inflows of USD 77 billion including a equity inflows of USD 56 billion has been received till March 2016. ‘Zero defect zero effect’ is a key phrase which has come to be associated with the Make in India campaign. According to Prime Minister, “Let’s think about making our product which has ‘zero defect’… and ‘zero effect’ so that the manufacturing does not have an adverse effect on our environment”.
In December 2015, Micromax announced that it would put up three new manufacturing units in Rajasthan, Telangana and Andhra Pradesh. Japan announced it would set up a USD 12 billion fund for Make in India-related projects, called the “Japan-India Make-in- India Special Finance Facility ” after the Japanese Prime Minister Shinzo Abe’s visit to the country.