‘MAKE IN INDIA WEEK’ aimed to put India on the global map as a manufacturing hub. And it seems to have paid off.
By – JAYASHREE MENDES
WHEN THE EMBLEM OF A LION ON THE PROWL made entirely of cogs made its first appearance in late 2014, it held a huge promise for the Indian manufacturing sector. Since then, the lion has travelled continents in the hopes of inviting further investments into India.
Although India has always been known for its manufacturing prowess considering its large populace, there is a new surge sweeping back in the national economic space and one that is touted to be even more promising. And this has the Prime Minister’s backing. The Make in India concept will revolve around major reforms and promises to poise India as the third-largest economy of the world by 2030. In the words of Prime Minister Narendra Modi, India offers three ‘Ds’ for business to thrive — democracy, demography and demand. Add to that a techsavvy and an educated population, skilled labour,
and a strong commitment to calibrated liberalisation — India is a destination that foreign investors cannot overlook.
With this in mind, the government organised a Make in India Week (MII Week) from February 13-18 and the venue chosen was the MMRDA Grounds at Bandra-Kurla Complex, Mumbai. Creating a confluence of policymakers, industry, entrepreneurs and
academia to showcase, connect and collaborate, as well as highlight the people, policies and partnerships driving India’s new manufacturing revolution, the Week sparked a renewed sense of pride in India’s manufacturing, while taking corporate
and public participation to the next level. The Prime Minister inaugurated the event that hosted a government delegation from 49 nations and business delegations from 68 countries. Speaking at the curtain raiser conference a week before the MII Week could start, Minister of State (Independent Charge) for Commerce & Industry Minister of State for Commerce and Industry, Government of India, Nirmala Sitharaman said, “The government has incessantly pushed policy measures to boost manufacturing and today FDI in India is growing at 48% while globally there is a sharp fall. The global business community has responded enthusiastically to Indian economy’s revivalist fervour and MII Week will further showcase the nation’s accomplishments in manufacturing and position India as investment, innovation and manufacturing hub.”
Drawing the attention towards the Centre’s view on states being partners to realise the nation’s potential for achieving higher rates of growth and creating employment for masses, the Minister added that “States have a significant role in building and sustaining a manufacturing revolution and in the spirit of co-operative as well as competitive federalism they
will be the drivers of development and centre will play a catalytic role.”
Chief Minister of Maharashtra, Devendra Fadnavis, said that India is poised to be the next big manufacturing destination. He added, “The Make in India Week will have global players exploring new avenues to invest in Maharashtra and hosting this event
in the commercial capital of India will not only help consolidate the State’s position as one of the favoured destination for foreign and domestic investors but also reinforce itself as a one of the gateways to economic and intellectual engagement
with India.”
Amitabh Kant, Secretary, Department of Industrial Policy and Promotion, Government of India, highlighted, “The challenge before India is to sustain a 9-10% growth rate for the next three decades. This can be achieved only if India continues to offer an easy ecosystem for businesses to flourish and a robust manufacturing sector growth.”
INDUSTRIES FROM 11 sectors (automobile & auto components, chemicals & petrochem, construction materials & equipment, defence & aerospace, food processing, industrial equipment & machinery, IT & electronics, pharmaceuticals), 17 state exhibitions
and several country pavilions covering an area of 220,000m2 and over 190 exhibitors showcased the manufacturing prowess of the country.
Besides the focused conferences that were created as a knowledge forums and a bid to attract investments, the halls were packed with Indian and MNCs showcasing worldclass technologies. So it was not surprising to learn later of the humungous
investments MoUs the various states had signed. In fact, most of the MoUs inked were those who already are committed to
India and manufacturer here. Speaking to Manufacturing Today, the ZED (Zero Defect Zero Effect) team of Dr A Raj, senior advisor and Dr Mahavir Tiwari, assistant director from the Quality Council of India, an autonomous body set up by the government of India and Ministry of Commerce & Industry said that ZED as a model will be applicable not only from
a quality management perspective, but also from an energy management, environment management, as well as IPR for the org and will be a holistic model that will cover multiple elements. Organisations, after a self assessment, will be evaluated on 50 set parameters, and will be assessed where they stand.
Interestingly, there has been much talk that the entire event attracted 15.2 lakh crore investments for all regions. The Japan International Cooperation Agency (JICA) has also agreed to loan Rs 15,000 crore, about 86% of the total estimated cost of the Sewri-Nhava Sheva Mumbai Trans Harbour Link, the cost of which has ballooned by nearly 60% to over Rs 17,000 crore.
The event, which saw the participation of over 2,000 overseas and 9,000 domestic companies, also received investment enquiries worth Rs 1.5 lakh crore. Out of the amount committed, around 30% came from foreign players. Consider some of the investments that various states gathered. While Odisha bagged Rs 70,959 crore, CIDCO inked MoUs worth Rs 30,000 crore. Other gainers are Karnataka (Rs 9,700 crore), Jharkhand (Rs 62,000 crore), Gujarat (Rs 700 crore), and Maharashtra (Rs 7.94 lakh crore).
Industrial explosives manufacturer Solar Industries India has signed a pact with the Maharashtra government to set up a facility in Nagpur with an investment of Rs 1,550 crore to manufacture ammunition for Armed Forces. The MoU was formalised by the company through its 100% subsidiary Economic Explosives. The project will come up in Nagpur and will generate more than 700 direct jobs.
Addressing the event’s closing ceremony, DIPP Secretary Amitabh Kant said: “Maharashtra will become gateway of India”, testifying to the success of the event held in the state capital.