Note4Students
From UPSC perspective, the following things are important :
Prelims level: Make in India Programme
Why in the News?
It has been 10 years since the announcement of “Make in India” Programme on September 25 in the year 2014.
About the Make in India Programme:
| Details | |
| Led by | Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry |
| Objective | To transform India into a global manufacturing and investment hub |
| Key Focus Areas | Attract foreign investment, promote industrialization, export-led growth |
| Make in India 2.0 Sectors | Covers 27 sectors, including strategic manufacturing and services |
| GDP Target (Manufacturing) | Increase manufacturing share in GDP from 16% to 25% by 2022 |
| Job Creation Target | 10 crore additional jobs by 2022 |
| Manufacturing Growth Target | 12-14% annual growth in the manufacturing sector |
| Four Pillars |
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Success of the Project
- India is now the second-largest mobile phone producer globally.
- The PLI Schemes have attracted ₹1.97 lakh crore in investment across 14 key sectors, generating 8 lakh jobs.
- The PM GatiShakti initiative has improved logistics and transport connectivity, while India received $667.41 billion in FDI from 2014-2024.
- Indigenous projects like INS Vikrant and Vande Bharat Trains have showcased India’s growth in manufacturing.
- India improved its Ease of Doing Business ranking, moving from 142nd to 63rd.
- Limitations:
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- The share of manufacturing in GDP has remained flat at 17.3% in 2023-24, the same level as in 2013-14, despite rising briefly to 18.5% in 2021-22.
- Employment has declined, with manufacturing’s share in total employment falling from 11.6% in 2013-14 to 10.6% in 2022-23.
- India’s share in global exports grew from 1% in 2005-06 to 1.6% by 2015-16, but only increased marginally to 1.8% by 2022-23.
- Additionally, imports as a share of GDP have risen back to 25% in 2023-24, similar to 27% in 2013-14, after a dip to 21.2% in 2020-21 during the pandemic.
PYQ:[2017] “Industrial growth rate has lagged behind in the overall growth of Gross-Domestic-Product (GDP) in the post-reform period.” Give reasons. How far are the recent changes in Industrial-Policy capable of increasing the industrial growth rate? |
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