"Make in India at 12 Years: Manufacturing's Share Still Flat"
Make in India
flagship 2014 scheme to raise manufacturing's role in India's economy and attract investment.
Production-Linked Incentive (PLI)
incentive tied to incremental output or sales growth in specific manufacturing sectors.
The Make in India initiative was launched on September 25, 2014. Its goal was to turn India into a global manufacturing hub. It built on an earlier plan, the National Manufacturing Policy, 2011. That policy had already set a target: raise manufacturing's share in GDP (the total value of goods and services produced in the economy) to 25% by 2025. It also aimed to create 100 million additional manufacturing jobs by 2025.
Make in India organised its push around four ideas. First, new processes. These included easier business registration and faster approvals. Second, new infrastructure. This included industrial corridors and smart cities built near ports and highways. Third, new sectors. The government chose a list of 25 priority industries. These ranged from automobiles to information technology. Fourth, a new mindset. The government positioned itself as a business partner rather than only a regulator. The scheme also aimed to raise foreign direct investment (FDI, money invested by foreign companies into Indian businesses). It also aimed to improve India's standing on global ease-of-doing-business rankings.
Later, the government added sharper tools. The Production-Linked Incentive (PLI) scheme gives companies a cash incentive. The incentive is tied to how much extra they manufacture and sell. This applies in specific sectors like electronics, pharmaceuticals, and textiles. Even before Make in India began, other tools had tried a similar approach. National Investment and Manufacturing Zones (NIMZs) and single-window clearance had tried a sector-specific push to boost manufacturing.
Manufacturing matters for an economy like India's. It can absorb workers moving out of farming into better-paid, more stable jobs. In most countries that grew rich, a large shift of workers from agriculture into industry came before a shift into services. India's own workforce data shows this shift has been slow. In the early 1970s, about 74% of India's workforce worked in agriculture, the primary sector. By recent data, this had fallen to under half. But the industrial or secondary sector's share of jobs has barely moved. It stood near 24% in 2011-12 and remains close to that level today. The services sector has absorbed a much larger share of the shift instead. …
What is/are the recent policy initiative(s) of Government of India to promote the growth of manufacturing sector?
1.Setting up of National Investment and Manufacturing Zones
2.Providing the benefit of 'single window clearance'
3.Establishing the Technology Acquisition and Development Fund
Select the correct answer using the codes given below:
Consider the following statements:
Statement-I: India accounts for 3.2% of global export of goods.
Statement-II: Many local companies and some foreign companies operating in India have taken advantage of India's 'Production-linked Incentive' scheme.
Which one of the following is correct in respect of the above statements?
Can the strategy of regional resource-based manufacturing help in promoting employment in India?
Statement-I: India's share of global merchandise exports exceeds 3 percent.
Statement-II: Incentive schemes such as the Production-Linked Incentive (PLI) scheme have delivered broad-based gains across all manufacturing sectors in India.
Which one of the following is correct in respect of the above statements?
Consider the following statements regarding India's workforce distribution:
1.The share of India's workforce in the primary sector has declined from about three-fourths in the early 1970s to under half in recent years.
2.The share of workforce in the secondary (industrial) sector now exceeds the share in the services sector.
Which of the statements given above is/are correct?
Consider the following statements about the 'Make in India' initiative:
1.It was launched in 2014 with the aim of raising manufacturing's share in GDP to 25% by 2025.
2.It functions under the Department for Promotion of Industry and Internal Trade (DPIIT).
Which of the statements given above is/are correct?
Match List I (Initiative) with List II (Year of Launch) and select the correct answer using the codes below:
List I:
A.National Manufacturing Policy
B.Make in India
C.Production-Linked Incentive Scheme
List II:
1.2011
2.2014
3.2020
With reference to the Production-Linked Incentive (PLI) scheme, consider the following statements:
1.It provides financial incentives linked to incremental output or sales in notified sectors.
2.It has been extended uniformly to all sectors of the Indian economy.
Which of the statements given above is/are correct?
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