PM Narendra Modi rolls out 'Make in India' plan

Prime Minister launched 'Make in India' program, rolling out the red carpet to investors through a string of measures including easier norms and rules aimed at transforming India into a manufacturing hub

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The programme lays emphasis on these 25 sectors that will focus on job creation and skill enhancement

Prime Minister Mr Narendra Modi today unveiled the "Make in India" campaign, with an aim to turn the country into a global manufacturing hub. It was first proposed by the PM in his Independence Day speech. The government has identified 25 sectors that will be covered under the Make In India plan. The program lays emphasis on these 25 sectors that will focus on job creation and skill enhancement.

The campaign, Mr Modi said, "is the step of a lion." The logo is a striding lion made of cogs, symbolising manufacturing, strength and national pride. The Make in India campaign aims at turning the country into a global manufacturing hub by smoothening business processes and attracting foreign companies to set up factories in India and invest in the country's infrastructure. The focus, is on creating jobs and helping the poor reach the middle class faster said the PM.

He also emphasised on the need to rebuild investors' trust and provide them with a better investment climate. Mr Modi said promising faster decision making and a better policy environment for global and domestic corporates.

Amongst the 25 sectors, following are the areas in the lifescience and healthcare sector covered by the PM.


BioTech:
India is third biggest biotech industry in the Asia-Pacific region and also has the second highest number of USFDA approved plants. Indian biotech industry will grow at an average growth rate of around 30 percent a year and reach $100 Billion by 2025. The sector has seen high growth with a CAGR in excess of 20 percent and the key drivers for growth in the biotech sector are increasing investments, outsourcing activities, exports and the government's focus on the sector. The Department of Biotechnology has established biotech parks in various parts of the country to facilitate product development, research and innovation, and the development of biotechnology industrial clusters. The parks offer investors incubator facilities, pilot plant facilities for solvent extraction and laboratory and office spaces.

 

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