{"id":80711,"date":"2021-02-05T18:09:53","date_gmt":"2021-02-05T12:39:53","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=80711"},"modified":"2021-03-01T13:49:31","modified_gmt":"2021-03-01T08:19:31","slug":"what-is-make-in-india-initiative-2-0","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/what-is-make-in-india-initiative-2-0\/","title":{"rendered":"What is &#8220;Make in India Initiative 2.0&#8221;?"},"content":{"rendered":"<p><strong>What is the News?<\/strong><\/p>\n<p>The Minister of Commerce and Industry has informed Lok Sabha about the Make in India Initiative 2.0.<\/p>\n<p><strong>Make in India Initiative:<\/strong><\/p>\n<ul>\n<li><strong>Launched Year: <\/strong>It was launched in 2014 by the Government of India.<\/li>\n<li><strong>Aim: <\/strong>To make India a global hub for the manufacturing, research and innovation. Also, the integrations of India in the global supply chain.<\/li>\n<li><strong>Objectives:<\/strong>\n<ul>\n<li>To increase the manufacturing sector\u2019s growth rate to 12-14% per annum in order to increase the sector\u2019s share in the economy;<\/li>\n<li>To create 100 million additional manufacturing jobs in the economy by 2022; and<\/li>\n<li>To ensure that the manufacturing sector\u2019s contribution to GDP is increased to 25% by 2022 (revised to 2025) from the current 16%.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><strong>Make in India 2.0:<\/strong><\/p>\n<ul>\n<li>It presently focuses on 27 sectors with a special focus on ten champion sectors including; <strong>1. capital goods, 2. auto, 3. defence, 4. pharma, 5. renewable energy, 6. biotechnology, 7. chemicals, 8. leather, 9. textiles, 10. food processing.<\/strong><\/li>\n<li>These sectors have the potential to become global champions and drive double-digit growth in manufacturing.<\/li>\n<li><strong>In manufacturing,<\/strong> the action plans are coordinated by the Department for Promotion of Industry and Internal Trade (DPIIT). <strong>In services,<\/strong>\u00a0 action plans are coordinated by the Department of Commerce.<\/li>\n<\/ul>\n<p><strong>Achievements so far:<\/strong><\/p>\n<ul>\n<li><strong>Foreign Direct Investment(FDI): <\/strong>India has registered its highest-ever annual FDI Inflow of US $74.39 billion during the last financial year 2019-20 as compared to US $ 45.15 billion in 2014-2015.\n<ul>\n<li>Further, in the last six years (2014-20), India has received FDI inflow which is 53% of the FDI reported in the last 20 years.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Ease of Doing Business Ranking: <\/strong>India has jumped to 63rd place in World Bank\u2019s Ease of Doing Business ranking. This is due to reforms in the areas of Starting a Business, Paying Taxes, Trading Across Borders, and Resolving Insolvency.<\/li>\n<\/ul>\n<p><strong>Source: <\/strong><a href=\"https:\/\/pib.gov.in\/PressReleasePage.aspx?PRID=1694804\"><strong>PIB<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is the News? The Minister of Commerce and Industry has informed Lok Sabha about the Make in India Initiative 2.0. Make in India Initiative: Launched Year: It was launched in 2014 by the Government of India. Aim: To make India a global hub for the manufacturing, research and innovation. Also, the integrations of India&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/what-is-make-in-india-initiative-2-0\/\">Continue reading <span class=\"screen-reader-text\">What is &#8220;Make in India Initiative 2.0&#8221;?<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,9,959],"tags":[1302],"class_list":["post-80711","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-public","category-schemes","tag-eco_7","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/80711","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=80711"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/80711\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=80711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=80711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=80711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}