Make in India is an initiative that was launched on 25th September 2014 to facilitate investment, foster innovation, build best in class infrastructure, and make India a hub for manufacturing, design, and innovation. The development of a robust manufacturing sector continues to be a key priority of the Indian Government. It was one of the first ‘Vocal for Local’ initiatives that exposed India’s manufacturing domain to the world. The sector has the potential to not only take economic growth to a higher trajectory but also to provide employment to a large pool of our young labour force.
Make in India initiative has made significant achievements and presently focuses on 27 sectors under Make in India 2.0. Department for Promotion of Industry and Internal Trade is coordinating action plans for the manufacturing sector, while the Department of Commerce is coordinating the service sector.
Activities under the ‘Make in India‘ initiative are being undertaken by several Central and State Government departments from time to time. Programme specific data of such activities and details of foreign companies are not centrally maintained.
India has registered its highest-ever annual FDI Inflow of US $81.72 billion (provisional figure) during the last financial year 2020-21 as compared to US $ 45.15 billion in 2014-2015. In the last seven financial years (2014-20), India has received FDI inflow worth US$ 440.01 billion which is 58 percent of the FDI reported in the last 21 years (US$ 763.58 billion). Year-wise FDI inflow since 2014 is given in below table:
Table: Year wise FDI inflow since 2014-15
|Sl. No.||Year||FDI (in US$ billion)|
(P): Data is Provisional. Subject to reconciliation with RBI
This information was given by the Minister of State in the Ministry of Commerce and Industry, Shri Som Parkash, in a written reply in the Lok Sabha.