Make in India garners $222 billion in pledges
The "Make in India" summit in Mumbai that was inaugurated by Prime Minister Narendra Modi has closed with Rs.15.2 lakh crore in investment pledges. The commitments fell short of the Rs.25 lakh crore announced at the Vibrant Gujarat event last year. Amitabh Kant, Secretary of India's Department of Industrial Policy and Promotion, said he expected 80-85% of the pledges to convert into business.
Make in India program was launched by PM Modi in September 2014 as part of a wider set of nation-building initiatives. It is an initiative of the Government of India to encourage multi-national, as well as domestic, companies to manufacture their products in India. The major objective behind this is to focus on job creation and skill enhancement in 25 sectors of the economy.
Government of India is set to organize 'Make in India Week' in Mumbai from February 13-18, 2016. 'Make in India' Week aims to provide momentum to Make in India initiative and to promote India as the preferred manufacturing destination, globally. The event will offer immense access and opportunities to connect with Indian and global industry leaders, the central and state governments and other stakeholders.
According to government officials, five partner countries including Sweden, Germany, Poland, Australia and South Korea will participate. More than 1,000 global and over 8,000 Indian firms are scheduled to display their manufacturing abilities.
Make in India Week would showcase people, policies and partnerships that are driving India's new manufacturing revolution. The event will include state investment seminars from across India, around 20 Sector seminars focusing on key areas, panel discussions on policies, ease of doing business, etc,. It will also see the participation of Union and State ministers, CMs, along with businessmen from India and overseas.
Keeping in mind the focus on start-ups, a start-up contest is scheduled to be held during the Make in India week, with a Rs.2 crore prize to be won on the spot. All Indian Institutes of Technology (IITs), premier engineering institutes, and over 13 international institutes will participate in the event. Awards like 'Best manufacturer', 'Best Innovator', and 'Best Young Creator' will be presented.
Kicking off the 'Make In India Week', Prime Minister Narendra Modi inaugurated the Make in India Centre at Mumbai's MMRDA Grounds in Bandra. PM Modi was accompanied by Finland Prime Minister Juha Petri Sipila and Sweden Prime Minister Kjell Lofven along with Maharashtra Chief Minister Devendra Fadnavis. Later in the evening, Modi will officially launch the flagship event 'Make In India Week'.
Make in India Center is spread over an area of 2.2 lakh square meters and 27 halls. Along with 17 state exhibitions, the Centre will hold exhibitions from Sweden, Germany and South Korea.
A massive fire broke out during a cultural programme at the Make in India event in Mumbai. According to TV reports, CM Fadnavis, Governor C Vidyasagar Rao, Aamir Khan, Amitabh Bachchan and other dignitaries who were present at the event were evacuated. The area has been evacuated and fire-fighters are working to bring the fire under control.
