New Delhi: India Inc needs sector-specific policies, skills development, says Chanda Kochhar
11: 30 am What is being launched today at the Make in India campaign will be the next growth driver for India and creater of jobs, said ICICI Bank CEO and MD, Chanda Kochhar.
“Manufacturers and bankers would like to ensure that whatever gets made in India is the best product available globally, at competitive cost and is sustainable,” said Kochhar.
India’s indigenous science and skills is now orbiting Mars in just $74 million compared to more than $650 million by NASA for a similar mission, she said.
On employment, Kochhar said manufacturing has the potential to add 9 crore jobs in the next ten years but this can only be achieved if India focuses on ease of doing business, sector specific policies and skill development.
Manufacturing has to become next big wave for India, says KM Birla
11:15 am Azim Premji, chairman of India’s third-largest IT company Wipro, said even though the company is primarily known as a software major it has been contributing to manufacturing.
“Our manufacturing facilities consist of 13 around the world of which 5 are in India.”
Meanwhile, Kumar Mangalam Birla of the Birla Group said it is high time India become a preferred choice for global companies as a manufacturing hub and not just an IT hub.
“Manufacturing has to become the next big wave for us. MakeInIndia is a clarion call that will galvanise India’s economy to reach greater heights,” he said.
Modi dreams and does at the same time, says Mukesh Ambani
11: 10 am Praising Prime Minister Narendra Modi for his leadership, chairman of Reliance Industries, Mukesh Ambani said Modi’s unique leadership quality is that he dreams and does a the same time, working over 14 hours a day and at the same time motivating over a billion Indians to dream and do.
He added that the perception of India has changed dramatically post Modi’s Japan visit.
” You gave us a vision of digital India. This goes hand in hand with the Make in India campaign,” said Ambani, while stressing that the cluster of villages should not only be connected to local but also global markets.
India can come back to fast growth trajectory of 8 and 10 percent under the leadership of Modi, said Ambani.
Ambani also praised India’s successful maiden mars mission and said that the cost of Mars mission is just Rs 7 per kilometre, equivalent to cost of travel in most cities in India.
Talking about employment opportunities within Reliance, Ambani said Reliance Industries will create 1.25 lakh jobs in the next 12-15 months.
MD of Maruti Suzuki Kenichi Ayukawa says India is the not easiest country to do business in but has potential to become the most powerful car manufacturer of the world
11: 00 am Kenichi Ayukawa, MD and CEO, Maruti Suzuki India admitted that India is not the easiest country to do business in due to several regulations, and complicated laws. However, he said that under the leadership of Narendra Modi, India has the potential of becoming one of the most competitive nations in the world.
10:50 am Human capital, huge market India’s biggest advantage, says Mistry
Tata Group chairman Cyrus Mistry said human capital and a high sustainable consumption growth rate are India’s biggest strengths, which need to be coupled with efficient logistics and improved labour laws if India needs to become a manufacturing hub.
“Make in India programme brings together government and industry together to outline this future,” Mistry said while addressing the corporate leaders at the Make in India campaign. He added that transparent tax laws, reliable policies, critical infrastructure supported by a stable government are key to growth.
Red tape will be replaced by red carpet, says Nirmala Sitharaman
10: 39 am Make in India not a slogan but a mission to turn India into a global manufacturing hub, said India’s commerce minister Nirmala Sitharaman today while addressing corporate chiefs at the launch of the Make in India campaign.
“Red tape will be replaced by the proverbial red carpet,” she said, while adding that several measures have been initiated to ease doing business in India such as approval of 100 percent FDI in construction under the automatic route while FDI in Defence has been raised from 26 to 49% and up to 100% on a case basis.
” We want to make India a global destination for manufacturing and a global leader, she added.
A dedicated team has been set up which will assist industry players to invest in manufacturing in India. The government has also identified 25 Sectors in which India can become a global leader.
Make in India unveils vision for manufacturing; here are the highlights
10:26 am : The National Manufacturing policy is being touted as the first of its kind for the manufacturing sector as it addresses areas of regulation, infrastructure, skill development, technology, availability of finance, exit mechanism and other pertinent factors related to the growth of the sector.
Here are the highlights
he National Manufacturing Policy is by far the most comprehensive and significant policy initiative taken by the Government
he National Manufacturing Policy is by far the most comprehensive and significant policy initiative taken by the Government
1. An increase in manufacturing sector growth to 12-14% per annum over the medium term.
2. An increase in the share of manufacturing in the country’s Gross Domestic Product from 16% to 25% by 2022.
3. To create 100 million additional jobs by 2022 in manufacturing sector.
4. Creation of appropriate skill sets among rural migrants and the urban poor for inclusive growth.
5. An increase in domestic value addition and technological depth in manufacturing.
6. Enhancing the global competitiveness of the Indian manufacturing sector.
7. Ensuring sustainability of growth, particularly with regard to national manufacturing
Make in India motto unveiled as ‘Goodbye red tape, hello red carpet’
10: 10 am The government’s MadeInIndia campaign lays emphasis on 25 sectors with focus on job creation and skill enhancement. These include: automobiles, chemicals, IT, pharmaceuticals, textiles, ports, aviation, leather, tourism and hospitality, wellness, railways, auto components, design manufacturing, renewable energy, mining, bio-technology, pharmaceuticals and electronics among others.
Check out the campaign’s slogan below:
And here comes Mukesh Ambani for the campign’s launch
The Make in India programme includes new initiatives designed to facilitate investment, foster innovation, protect intellectual property, and build manufacturing infrastructure. According to the Make in India website, dedicated teams will will guide and assist first-time investors, from time of arrival.
Mukesh Ambani, CMD Reliance Industries arrives for the launch #MakeInIndia
Mukesh Ambani, CMD Reliance Industries arrives for the launch #MakeInIndia
Check out the government’s plan to make business easier in India:
1. New de-licensing and deregulation measures: Process of applying for Industrial License & Industrial Entrepreneur Memorandum made online on 24×7 basis through eBiz portal.
2. Validity of Industrial license extended to three years.
3. States asked to introduce self-certification and third party certification under Boilers Act.
4. Major components of Defence products’ list excluded from industrial licensing.
5. Dual use items having military as well as civilian applications deregulated.
6. Services of all Central Govt. Departments & Ministries will be integrated with the E-Biz – a single window IT platform for services by 31 Dec. 2014.
7. Process of obtaining environmental clearances made online.
8. Following advisories sent to all Departments/ State Governments to simplify and rationalize regulatory environment.
9. All returns should be filed on-line through a unified form.
10. A check-list of required compliances should be placed on Ministry’s/Department’s web portal.
11. All registers required to be maintained by the business should be replaced with a single electronic register.
12. No inspection should be undertaken without the approval of the Head of the Department. For all non-risk, non-hazardous businesses a system of self-certification to be introduced.
Azim Premji arrives at Vigyan Bhawan
Azim Premji arrives at Vigyan Bhawan
9: 45 am KM Birla, Azim Premji arrive at Vigyan Bhavan.
Industrialists Kumar Mangalam Birla of the Birla Group, Onkar Singh Kanwar, MD and Chairman of Apollo Tyres as well as Azim Premji of Wipro have arrived at Vigyan Bhawan, where Modi will unveil his ambitious plan to urge companies to invest in India.
Speaking to CNBC-TV18, Infosys’ non-executive chairman Narayana Murthy said the government’s top priority should be to make it easy for foreign and local businesses to invest in India.
As part of Modi’s campaign, foreign investment caps in construction will be eased to enable greater participation in the NDA government’s 100 smart cities project and affordable housing.
9:30 am: What hurdles will it face?
Firstbiz columnist K Yatish Rajawat had listed the problems that could be faced by the ambitious new plan of the government:
Here’s what he said the new policy needs to address:
1. Smart Controls: Trading or imports of goods for mass consumption especially in the food, consumer goods, electrical products and light engineering goods needs to be controlled. Control cannot be physical barriers but smart barriers. A smart barrier for food, particularly processed imported food flooding our markets, is to have strong regulations on quality clearances.
2. Smart cities and Manufacturing clusters: Smart cities need to be combined with manufacturing clusters in a manner that creates liveable places for a workforce. Manufacturing does not exist in vacuum. It needs an ecosystem of labour markets, liveable spaces, and access to markets.
3. Smart Taxation :Manufacturing constitutes just 16 per cent of the GDP but pays more excise duty than services which constitutes 60 per cent of GDP, and pays service taxes. Excise duty exemptions are region-specific or state benefits granted by the Centre. The trouble with an excise tax holiday is that it distorts the manufacturing landscape. Entrepreneurs use the tax benefit region for packaging and shipping and wait for the next region to be granted the benefit for planning their investment. This does not help anybody and has to change.
4. Sales tax, octroi and entry tax are other taxes that a manufacturing unit has to bear. While these will go away when GST is implemented it will take at least 3-5 years for that to happen.
Read the complete column here
9:00 am: Modi set to unveil Make in India plan
After his announcement during his Independence Day speech, Prime Minister Narendra Modi is expected to announce some major incentives for corporates setting up manufacturing hubs in the country.
In his maiden independence day address, Modi had invited the global business community to set up manufacturing facilities in India, giving the slogan ‘come, make in India’.
To make it more successful, the campaign would be simultaneously launched in different state capitals including Mumbai, Chennai and Bangalore.
The campaign will also be telecast live in Indian embassies in countries in similar time zone as that of India.
The officials also said that prospective investors will be informed about India’s growth story and the steps being taken by the government to improve investment climate here.
The move is aimed at generating huge employment, boosting trade and spurring economic growth.
Leading industrialists, including RIL chief Mukesh Ambani, Essar Group Chairman Shashi Ruia and many other global and domestic CEOs will participate in Prime Minister Narendra Modi’s ambitious ‘Make in India’ campaign launch here on Thursday.
Other high-profile CEOs likely to be present at the launch include Chairman of Tata Group Cyrus Mistry; Mahindra Group CMD Anand Mahindra; Biocon CMD Kiran Mazumdar-Shaw; and ITC Chairman Y C Deveshvar; among others.
“The Make in India Campaign is one of the key missions of the Government and companies from India and outside are being welcomed to expand and set up facilities for manufacturing in India – for servicing the domestic and global markets. CEOs of important manufacturing companies in India both domestic and MNCs will be present in the function,” the official invite sent by the Government said.
