Modi's 'Make in India' initiative gets support of India Inc

Prime Minister Narendra Modi launched the much touted, NDA Government's "Make in India" initiative today with the objective of making the country a manufacturing hub for domestic and foreign companies.

Unveiling the 'Make in India' brochure here at Vigyan Bhawan, Prime Minister Modi said, "We have begun to change circumstances that forced businessmen to leave country. There should be rule of law. Like there is CSR there should also be corporate-government relations."

The event witnessed attendance by who's who of India Inc. who hailed Prime Minister Modi's initiative.

Speaking at the event, Reliance Industries Chairman and Managing Director Mukesh Ambani, said, "India is blessed with a leader whose unique leadership quality is that he dreams and he does. Today is a historic day for Indian industry. When the world looks at India, let nobody have a doubt that we can be competitive on global terms."

Chairman of Tata Group, Cyrus Pallonji said, "We warmly welcome Prime Minister Narendra Modi's Make in India programme, this offers a timely and unique opportunity for industry and government to work together to make India truly, globally competitive. The biggest challenge for India is to create employment for over 12 million young people entering the workforce annually. This employment will have to be generated by the manufacturing sector which also a multiplier on the services."

Managing Director and CEO of Maruti Suzuki India, Kenichi Ayukawa said that his company wholeheartedly welcomed Prime Minister Modi's call to Make in India.

Taking the stage at this event, Wipro Chairman, Azim Premji said, "The Prime Minister's vision of India as a manufacturing powerhouse calls for the preparation of educated workforce of thinkers and problem solvers and not rote lovers."

Chairman of the Aditya Birla Group, Kumar Mangalam Birla, CEO of ICICI Bank, Chanda Kochhar were among others who also spoke on the occasion.

During his Independence Day speech on August 15, Prime Minister Modi had appealed to the people the world over to come and make in India and sell their products in any country of the world.

The "Make in India" initiative will act as a first reference point for guiding foreign investors on all aspects of regulatory and policy issues and assist them in obtaining regulatory clearances.

The Centre has already allowed 100 per cent Foreign Direct Investment (FDI) under the automatic route in construction, operation and maintenance in rail infrastructure projects and increased FDI in defence from 26 to 49 per cent.

The initiative is expected to focus on job creation and skill enhancement in 25 key sectors such as automobiles, chemicals, IT, pharmaceuticals, textiles and tourism and hospitality.

It will also be aimed at identifying select domestic companies having leadership in innovation and new technology for turning them into global leaders and promoting green and advanced manufacturing.

A dedicated cell has been created to answer queries from business entities through a newly created web portal www.makeinindia.com.