Page 5 - Make In India

Confident of reaching $100 bn trade volume with Russia before 2030: EAM

India is confident of achieving USD 100 billion in annual bilateral trade with Russia well ahead of the timeline of 2030 and a more substantive relationship between the two nations has a larger global resonance, External Affairs Minister S Jaishankar said on Tuesday. There have been challenges to trade, especially with regard to payments and logistics and perceptible progress has been made in that regard, but there is still some work to be done, he said. The external affairs minister was speaking at the 25th India-Russia Intergovernmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC). The Russian delegation at the meeting was led by First Deputy Prime Minister Denis Manturov. In his televised opening remarks at the 25th session of the (IRIGC-TEC), Jaishankar said the trade between the two countries needs to be "more balanced and that would require addressing current constraints and undertaking greater facilitative efforts." "As two m

Govt imposes fine on US firm over delays in delivery of Tejas Mk1 engines

Initially, GE Aerospace was expected to begin engine deliveries in March 2023 to support HAL's production of Tejas Mk1. However, the first batch of engines is now anticipated to arrive by April 2025

'Invest in China' to boost 'Make in India': Chinese envoy Xu Feihong

This was the first formal meeting between the two leaders in the past five years, which was constructive and carried great significance, Feihong noted

Indian defence exports: From BrahMos to Akash, who are the major buyers?

India's defence exports touched a record Rs 21,083 crore in FY24

Medical device makers claim import of refurbished devices can harm industry

Manufacturing associations added that recent government orders permitting such imports threaten the efforts of Indian manufacturers to meet the vision of Aatmanirbhar Bharat

Bonfiglioli starts work for Rs 320 cr Tamil Nadu unit; to start ops by 2025

The 25-acre Cheyyar plant reinforces Bonfiglioli 's commitment to the 'Make in India' initiative and solidifies its position as one of India's largest gearbox manufacturers

Statsguru: A decade of Make in India sees growth, but challenges remain

One of the stated objectives of the Make in India initiative was to boost manufacturing activity and improve investments in the sector

India's high tax curbing soft drinks segment reach potential: ICRIER report

Carbonated soft drinks segment in India is unable to reach its potential in terms of scale expansion due to barriers such as high taxation under the GST regime despite government's initiatives like 'Make in India' and 'Aatmanirbhar Bharat', according to a report by economic think tank ICRIER. The cross-country comparative data on sugar-sweetened beverages (SSB) taxes collated by the World Bank shows that India has one of the highest tax rates for carbonated soft drinks (CSDs) at a total tax rate of 40 per cent as of 2023. Over 90 per cent of countries that tax SSBs have a lower tax rate than India, as per the report titled 'Carbonated Beverages Industry in India: Tax Policy to Promote Growth, Innovation and Investment'. Consumers, globally and in India, are shifting towards low-sugar and no-added sugar varieties of beverages amid heightened health awareness. "The CSD market is also changing from its traditional high sugar carbonated beverages to low-sugar and fruit-based and/or ...

Make in India needs a reset. It won't work unless we focus on exports

The trouble is that Indian manufacturers appear less and less interested in becoming export powerhouses

Govt discussing proposal to formulate scheme for 'Made in India' label

The government is discussing a proposal to formulate a scheme for 'made in India' label with a view to promote brand India in the global markets, an official said. The official said that a high level committee is examining the details of the scheme. The objective is to create a strong brand identity for India, similar to how 'made in Japan' or 'made in Switzerland' evokes about specific images and qualities. "That we want for India also," the official said, adding, for instance, "when we think of Switzerland, we often think of their watches, chocolates, and banking systems." "We are having discussions on how we can do that. Do we make this scheme for specific sectors like textiles where we have strength in that. So we are looking into such things," the official added. According to experts, quality consciousness is key to promote Brand India. The government at present has India Brand Equity Foundation (IBEF) to promote and create international awareness about the 'made in India' l

FDI realities: A decade on, policy for multi-brand retail remains on paper

Ten years after FDI in multi-brand retail was allowed, it remains largely inactive. Meanwhile, e-commerce giants like Amazon and Flipkart continue to reshape India's rapidly evolving retail market

Make in India played tremendous role in latest GVA numbers: Piyush Goyal

Goyal further remarked that the world is increasingly viewing India as a manufacturing hub

Make in India at 10: A vision for global manufacturing leadership

The success of Make in India has been driven by several landmark reforms, starting with an investor- friendly FDI policy

How to make in India for the world and attract large global companies

We should be wary of global consultants pushing grand visions of India becoming a $50 trillion or $100 trillion economy, especially when per capita income is still under $3,000

Govt plans to liberalise procurement rules for new, innovative products

Investments under PLI may hit Rs 2 trillion by next year, says Piyush Goyal

PM hails 'Make in India', says nation has become manufacturing powerhouse

With his government's flagship 'Make in India' initiative completing 10 years, Prime Minister Narendra Modi on Sunday said India has become a manufacturing powerhouse and it is because of the country's youth power that the "whole world is looking up to us". As the Make in India' initiative marked its 10th anniversary last week, the prime minister talked about it in his monthly Mann Ki Baat' radio broadcast and said the success of this campaign includes the contribution of the country's big industries as well as small shopkeepers. "Today, it gives me immense joy to see that the poor, the middle class and MSMEs are getting a lot of benefit from this campaign. This campaign has provided an opportunity to people of every class to showcase their talent," Modi said. "Today, India has become a manufacturing powerhouse and it is because of the youth power of the country that the whole world is looking up to us. Be it automobiles, textiles, aviation, electronics or defence every sector in th

Goyal urges to use made in India goods to cut imports, boost manufacturing

Commerce and Industry Piyush Goyal on Saturday called for increased usage of made-in-India goods in order to promote domestic manufacturing and cut the country's imports. Speaking at the UP International Trade Show at Greater Noida, Goyal also said that out of the 20 approved industrial townships, one is coming up at Greater Noida and in that, the first phase is already sold out. For next phase, talks are on with the state. "Manufacturing and selling of made-in-India products within the country and abroad will reduce imports, boost MSMEs, help 'One District One Product' scheme to grow," he said. Last month, the Union Cabinet approved setting up of 12 industrial smart cities including in Uttar Pradesh and Bihar, with an overall investment of Rs 28,602 crore. Goyal also said that India's intellectual property rights (IPR) regime has improved so much so that in 2014, only 6,000 patents were granted in 2014 but last year, the number has jumped to one lakh patents. Noting that India's

India SME Forum launches 'Start Exporting in Eight Weeks' programme

India SME Forum (ISF), a not-for-profit organisation for Small and Medium Enterprises (SMEs), launched a programme on Saturday titled "Start Exporting in Eight Weeks", to work with e-commerce export leaders like Amazon towards promoting 'Make in India' products. Launched under ISF's flagship initiative IndiaXports', the programme was announced by Minister of State for MSME Shobha Karandlaje at the Business Beyond Borders 2024 Conference in presence of MSMEs and industry leaders. In a statement, the NGO said the innovative "Start Exporting in Eight Weeks" programme is designed to enable Indian MSMEs to access global markets and boost exports within just eight weeks. It will offer comprehensive guidance, resources and networking opportunities free of cost to MSMEs aspiring to explore international market opportunities and expand their reach. Speaking on the launch of the programme, Karandlaje said, "MSMEs play a crucial role in contributing to the vision of Viksit Bharat 2047, and the

10 yrs of 'Make in India': Govt eyes $100 bn FDI inflows annually

The initiative was launched a decade ago, with an aim to boost manufacturing, attract foreign investment, enhance infrastructure, and promote indigenous production

Make in India 10th anniversary: PM Modi thanks all for 'roaring success'

Mobile manufacturing to renewable energy & electric vehicles, Prime Minister Narendra Modi highlights success under India's Make in India initiative which started September 25