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Make-in India – Start- up and Stand-up programmes
Make-in India
Make in India is the government's flagship campaign intended to boost the domestic manufacturing Industry and attract foreign investors to invest into the Indian economy. The Indian Prime Minister, Mr. Narendra Modi first mentioned the keyphrase in his maiden Independence Day address from the ramparts of the Red Fort and over a month later launched the campaign in September 2014 with an intention of reviving manufacturing businesses and emphasizing key sectors in India amidst growing concerns that most entrepreneurs are moving out of the country due to its low rank in Ease of Doing Business ratings.
Manufacturing currently contributes just over 15% to the national GDP. The aim of this campaign is to grow this to a 25% contribution as seen with other developing nations of Asia. In the process, the government expects to generate jobs, attract much Investment/”>Foreign Direct Investment, and transform India into a manufacturing hub preferred around the globe.
For the Make in India campaign, the government of India has identified 25 priority sectors that shall be promoted adequately. These are the sectors where likelihood of FDI (foreign direct investment) is the highest and investment shall be promoted by the government of India.On the campaign launch, the Prime Minister Mr. Modi said that the development of these sectors would ensure that the world shall readily come to Asia, particularly to India where the availability of both democratic conditions and manufacturing superiority made it the best destinations, especially when combined with the effective governance intended by his administration.
India is a country rich in natural Resources. Labour is aplenty and skilled labour is easily available given the high rates of Unemployment among the educated class of the country. With Asia developing as the Outsourcing hub of the world, India is soon becoming the preferred manufacturing destination of most investors across the globe. Mae in India is the Indian government's effort to harness this demand and boost the Indian economy. India ranks low on the "ease of doing business index". Labour laws in the country are still not conducive to the Make in India campaign. This is one of the universally noted disadvantages of manufacturing and investing in India.
Startup India is a flagship initiative launched by the Government of India on 16th January, 2016 to build a strong eco-system for nurturing innovation and startups in the country which will drive economic Growth and generate large scale EMPLOYMENT opportunities. The Government through this initiative aims to empower startups to grow through innovation and design. The Standup India scheme was launched on 5th April, 2016 to facilitate bank loans from Scheduled Commercial Banks (SCBs) between Rs.10 lakh to Rs.1 Crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) and one woman per bank branch for setting up a greenfield enterprise in trading, Services or manufacturing sector. The scheme is expected to benefit at least 2.5 lakh borrowers.
The salient features of Startup India are as follows:
SIMPLIFICATION and Handholding
- Simple Compliance Regime for startups based on Self-certification
- Launch of Mobile app and Portal for compliance and information exchange
- Startup India Hub to handhold startups during various phases of their development.
- Legal support and fast-tracking patent examination at reduced costs.
- Relaxed norms of public procurement for startups
- Faster exit for startups
Funding support and Incentives
- Providing funding support through a Fund of Funds with a corpus of Rupees 10,000 crore
- Credit guarantee fund for startups
- Tax exemption on capital gains invested in Fund of Funds
- Tax exemption to startups for 3 years
Industry-Academia PARTNERSHIP and Incubation
- Organizing Startup Fests to showcase innovations and providing collaboration platforms
- Launch of Atal Innovation Mission (AIM) with Self –Employment and Talent Utilization (SETU) Program of NITI Aayog
- Harnessing private sector expertise for setting up incubators
- Setting up of 7 new research parks modeled on the Research Park at IIT Madras
- Launching of innovation focused programs for students.
- Annual Incubator Grand Challenge to promote good practices among incubators.
The initiative provides for creating a credit guarantee fund for startups through Small Industries Development Bank of India (SIDBI) with a Corpus of Rs.500 crore per year for the next four years.
With this Action Plan the Government intends to accelerate spreading of the startup movement:
- From digital/technology sector to a wide array of sectors including agriculture, manufacturing, social sector, healthcare, Education, etc.; and
- From existing tier 1 cities to tier 2 and tier 3 cities including semi-urban and rural areas.
Stand up india
The Stand up India scheme aims at promoting Entrepreneurship among Women and scheduled castes and tribes. The scheme is anchored by Department of Financial Services (DFS), Ministry of Finance, Government of India. Stand-Up India Scheme facilitates bank loans between Rs 10 lakh and Rs 1 Crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and at least one woman borrower per bank branch for setting up a greenfield enterprise. This enterprise may be in manufacturing, services or the trading sector. In case of non-individual enterprises at least 51% of the shareholding and controlling stake should be held by either an SC/ST or woman entrepreneur.
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The Government of India has launched a number of schemes to promote entrepreneurship and innovation in the country. These schemes are aimed at providing support to entrepreneurs, startups, and innovators.
One of the most important schemes is the Stand Up India scheme. This scheme is aimed at promoting entrepreneurship among women and SC/STs. The scheme provides financial assistance, mentoring, and training to entrepreneurs from these groups.
Another important scheme is the Pradhan Mantri Kaushal Vikas Yojana (PMKVY). This scheme is aimed at providing training to youth in various skills. The scheme provides financial assistance to training providers and also offers placement assistance to trainees.
The Startup India scheme is another important scheme that is aimed at promoting entrepreneurship in the country. The scheme provides a number of benefits to startups, including tax breaks, easy access to credit, and incubation support.
The Atal Innovation Mission (AIM) is a scheme that is aimed at promoting innovation and entrepreneurship in the country. The scheme provides funding to incubators and accelerators, and also offers fellowships to innovators.
The Digital India scheme is a scheme that is aimed at making India digitally empowered. The scheme provides a number of initiatives, including broadband connectivity, e-governance, and digital Literacy.
The Make in India scheme is a scheme that is aimed at promoting manufacturing in the country. The scheme provides a number of incentives to companies that manufacture in India, including tax breaks, land subsidies, and power subsidies.
The Skill India scheme is a scheme that is aimed at training youth in various skills. The scheme provides a number of initiatives, including Skill development centers, apprenticeship programs, and online training programs.
These schemes have been successful in promoting entrepreneurship and innovation in India. The number of startups in India has increased significantly in recent years. The country is also becoming a hub for innovation. These schemes have also helped to create jobs and improve the lives of people in India.
However, there are a number of challenges that need to be addressed in order to further promote entrepreneurship and innovation in India. One of the biggest challenges is the lack of access to finance. Startups and innovators often face difficulty in getting loans from banks. Another challenge is the lack of Infrastructure-2/”>INFRASTRUCTURE. India needs to improve its infrastructure, including its roads, power supply, and Internet connectivity. The country also needs to improve its education system in order to produce more skilled workers.
Despite the challenges, the future of entrepreneurship and innovation in India is bright. The government is committed to promoting these sectors and there is a growing ecosystem of support for entrepreneurs and innovators. With the right policies and support, India can become a global leader in entrepreneurship and innovation.
What is Make in India?
Make in India is a flagship program of the Government of India with the goal of transforming India into a global manufacturing hub. The program was launched in September 2014 with the aim of attracting foreign direct investment (FDI) and promoting domestic manufacturing.
What are the benefits of Make in India?
The Make in India program offers a number of benefits to both domestic and foreign investors. These benefits include:
- A skilled workforce: India has a large and growing pool of skilled workers, which is attractive to foreign investors.
- A favorable investment Climate: The Indian government has made a number of reforms to improve the investment climate in India, such as simplifying the tax system and reducing bureaucratic red tape.
- A large domestic market: India has a Population of over 1.3 billion people, which provides a large market for goods and services.
- Access to raw materials: India is a major producer of raw materials, such as iron Ore, coal, and Minerals. This gives foreign investors access to a reliable supply of raw materials.
What are the challenges of Make in India?
The Make in India program faces a number of challenges, including:
- Infrastructure: India’s infrastructure, such as roads, railways, and power supply, is not as developed as in some other countries. This can make it difficult for businesses to operate in India.
- Corruption: Corruption is a major problem in India. This can make it difficult for businesses to get the necessary approvals and permits to operate in India.
- Labor laws: India’s labor laws are complex and can be difficult to comply with. This can make it difficult for businesses to hire and fire workers.
- Skill shortage: India has a shortage of skilled workers in some sectors. This can make it difficult for businesses to find the workers they need to operate in India.
What are the success stories of Make in India?
The Make in India program has had a number of success stories, including:
- The Tata Group: The Tata Group is one of India’s largest conglomerates. It has invested heavily in manufacturing in India, and has created thousands of jobs.
- Maruti Suzuki: Maruti Suzuki is India’s largest car manufacturer. It has invested heavily in manufacturing in India, and has helped to make India a major player in the global automotive industry.
- Hero MotoCorp: Hero MotoCorp is the world’s largest two-wheeler manufacturer. It has invested heavily in manufacturing in India, and has helped to make India a major player in the global two-wheeler industry.
What are the future prospects of Make in India?
The future prospects of Make in India are positive. The Indian government is committed to the program, and has made a number of reforms to improve the investment climate in India. The Indian economy is growing rapidly, and the demand for manufactured goods is increasing. This provides a good opportunity for foreign investors to manufacture in India.
Sure, here are some MCQs on the following topics:
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What is the name of the Indian government’s initiative to promote manufacturing in the country?
(A) Make in India
(B) Start Up India
(C) Stand Up India
(D) Atmanirbhar Bharat -
Which of the following is not a goal of the Make in India initiative?
(A) To create jobs
(B) To increase exports
(C) To reduce imports
(D) To promote foreign investment -
Which of the following is not a sector that is covered by the Make in India initiative?
(A) Automobiles
(B) Electronics
(C) Pharmaceuticals
(D) Agriculture -
Which of the following is not a benefit of the Make in India initiative?
(A) Increased employment
(B) Increased exports
(C) Reduced imports
(D) Increased pollution -
Which of the following is a criticism of the Make in India initiative?
(A) It is not doing enough to promote manufacturing in rural areas.
(B) It is not doing enough to promote manufacturing in small and medium enterprises.
(C) It is not doing enough to promote manufacturing in high-technology sectors.
(D) All of the above. -
Which of the following is a success story of the Make in India initiative?
(A) The Tata Nano, the world’s cheapest car, is manufactured in India.
(B) The Maruti Suzuki Swift, India’s best-selling car, is manufactured in India.
(C) The Hero MotoCorp Splendor, India’s best-selling motorcycle, is manufactured in India.
(D) All of the above. -
Which of the following is a challenge facing the Make in India initiative?
(A) The shortage of skilled labor.
(B) The lack of infrastructure.
(C) The high cost of doing business in India.
(D) All of the above. -
Which of the following is a goal of the Start Up India initiative?
(A) To promote entrepreneurship.
(B) To create jobs.
(C) To increase innovation.
(D) All of the above. -
Which of the following is not a benefit of the Start Up India initiative?
(A) Increased entrepreneurship
(B) Increased jobs
(C) Increased innovation
(D) Increased pollution -
Which of the following is a criticism of the Start Up India initiative?
(A) It is not doing enough to promote entrepreneurship in rural areas.
(B) It is not doing enough to promote entrepreneurship in small and medium enterprises.
(C) It is not doing enough to promote entrepreneurship in high-technology sectors.
(D) All of the above. -
Which of the following is a success story of the Start Up India initiative?
(A) Flipkart, India’s largest E-Commerce company, was founded by two entrepreneurs who were part of the Start Up India initiative.
(B) Ola, India’s largest taxi aggregator, was founded by two entrepreneurs who were part of the Start Up India initiative.
(C) Zomato, India’s largest food delivery company, was founded by two entrepreneurs who were part of the Start Up India initiative.
(D) All of the above. -
Which of the following is a challenge facing the Start Up India initiative?
(A) The lack of funding.
(B) The lack of mentorship.
(C) The lack of infrastructure.
(D) All of the above. -
Which of the following is a goal of the Stand Up India initiative?
(A) To promote entrepreneurship among women.
(B) To create jobs for women.
(C) To increase innovation among women.
(D) All of the above. -
Which of the following is not a benefit of the Stand Up India initiative?
(A) Increased entrepreneurship among women
(B) Increased jobs for women
(C) Increased innovation among women
(D) Increased pollution -
Which of the following is a criticism of the Stand Up India initiative?
(A) It is not doing enough to promote entrepreneurship among women in rural areas.
(B) It is not doing enough to promote entrepreneurship among women in small and medium enterprises.
(C) It is not doing enough to promote entrepreneurship among women in high-technology sectors.
(D) All of the above. -
Which of the following is a success story of the Stand Up India initiative?
(A) Sakhi, a women’s self-help group, was able to get a