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“Make in India version 2.0” to boost manufacturing

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India is all set to launch version 2.0 of Prime Minister Narendra Modi’s flagship ‘Make in India’ initiative to turn around the nation’s manufacturing sector.

  • The first level focused on easing processes to help businesses
  • The version 2.0 is aimed at turning it into a people’s movement on the lines of “Swadeshi movement”

KEY POINTS

  • Make in India 2.0 will boost the manufacturing sector via the initiatives like Digital India, Skill India and soon to be launched Start-up India. Department of Industrial Policy and Promotion is said to be drawing up the action plan for Start-up India initiative.
  • Taking a cue from countries such as Japan and Germany, known for their top-quality manufacturing, New Delhi is starting an investor outreach programme with several countries to bring global best practices in India.
  • The government recently launched Make in India “Mittelstand” a business support programme for 30 high-potential German companies to invest in India.
  • Meanwhile, on the completion of one year of the ‘Make in India’ programme, Modi held an interactive session with top global CEOs, including of Ford Motor, Lockheed Martin, IBM, PepsiCo, Du Pont, Merck & Co, Qualcomm and Abbott in New York on September 24.

The idea behind the meeting is to understand and address the concerns of global companies on policy issues.