MAKE IN INDIA

India going all out to give necessary impetus to indigenous manufacturing

New Delhi, Dec 14 (IANS) In the last few years, India has been focussing a lot on indigenous manufacturing. The Central government has taken up various measures to facilitate manufacturing in the country. The Centre has undertaken various steps to boost domestic and foreign investments in India as well. These include introduction of Goods and Services Tax, reduction in corporate tax, interventions to improve the ease of doing business, FDI policy reforms, measures for reduction in compliance burden, policy measures to boost domestic manufacturing through public procurement orders and Phased Manufacturing Programme (PMP).

Keeping in view India's vision of becoming 'Aatmanirbhar', Production Linked Incentive (PLI) Schemes for 14 key sectors have been announced with an outlay of Rs 1.97 lakh crore to enhance the country's manufacturing capabilities and exports.

In order to achieve India's vision of becoming 'Aatmanirbhar' and to strengthen its manufacturing capabilities and exports, an outlay of Rs 1.97 lakh crore has been announced in the Union Budget 2021-22 for PLI schemes in 14 key manufacturing sectors, beginning in fiscal year (FY) 2021-22.

With the announcement of PLI Schemes, significant creation of production, skills, employment, economic growth and exports is expected over the next five years and more.

The reforms taken by the Government have resulted in increased Foreign Direct Investment (FDI) inflows in the country. FDI inflows in India stood at $45.15 billion in 2014-2015 and have continuously increased since then and India registered its highest ever annual FDI inflow of $84.84 billion (provisional figures) in the financial year 2021-22, reported NewsonAir.

The annual growth rate of the manufacturing sector as per the Index of Industrial Production (IIP), with base year 2011-12, for 2021-22 is 11.8 per cent. The government aims to make India the global manufacturing hub. It also aims to increase the sector's GDP share to 25 per cent from the existing 16 per cent, and create 100 million new jobs by 2022.

Make in India' is an initiative that was launched on September 25, 2014, to facilitate investment, foster innovation, build best-inclass infrastructure and make India a hub for manufacturing, design and innovation. It is one of the unique single, vocal for local initiatives that promote India's manufacturing domain to the world.

India going all out to give necessary impetus to indigenous Manufacturing

Founded in 1999, G20 or Group of 20 is an intergovernmental forum comprising 19 nations around the world and the European Union. Formed in the wake of the Asian Financial Crisis, G20 is the leading forum for deliberation and coordination of core economic and policy issues at the global scale through dialogues, discussion, planning and implementation. It includes both developed and developing nations and these 20 countries account for 80% of the world's GDP, around 75% of the world trade, and 60% of the world's population. The group does not have a permanent secretariat and each annual meeting is supported and coordinated by the Troika - the past, the current and the incoming presidency. For the 2023 G20 summit, the Troika consists of Indonesia, India and Brazil. Up until now, the previous 17 Presidencies have delivered significant results while addressing the most pressing global issues of macro-economic stability, rationalisation of international taxation, relieving debt-burden on country, financial stability, climate mitigation and adaptation, and sustainable development. Following the presidency of Indonesia this year, India is all set to assume the presidency for 2023 from 1st December 2022. India will host more than 200 meetings at over 50+ locations across the country. The Finance Track will focus on key issues such as financing for infrastructure, financing for health care, financial sector policy changes, and financing for sustainable growth under the eight working groups. The Sherpa Track will focus on thirteen issues like anti-corruption, agriculture, the digital economy, and climate change and two initiatives - G20 EMPOWER (This initiative aims to empower women and accelerate their leadership in the private sector by leveraging alliances between business leaders and G20 countries) and RIIG (Research and Innovation Initiative Gathering aims to enhance and strengthen research and innovation collaboration among the G20 member countries). Finally, the eleven Engagement Groups, consisting of non-government participants from G20 member countries, will provide towards the policy recommendations.

Building on the idea propagated by India’s age-old spiritual traditions, G20 presidency will function around the principles of the universal sense of oneness – ‘One Earth, One Family, One Future’ – based on the adage Vasudhaiva Kutumbakam, meaning ‘that all of the world, universe or reality is one’.

One Earth: heal the planet by encouraging sustainable and environment-friendly lifestyles based on Indian traditions.

One Family: promote harmony within the human family by depoliticizing pertinent supply chains of food, fertilizers, and medicines. This is done with the aim to prevent humanitarian crises due to geo-political tension. One Future: encourage honest conversations among the most powerful nations of the world regarding core issues of climate change and mitigation of risks posed by weapons of mass destruction to enhance global security.

Himachal Pradesh - the next medical devices hub of India

By Rashika Vij

Himachal Pradesh is one of the most popular and easily accessible hill states of India.

People from all parts of the country as well as from different parts of the world visit this beautiful state to enjoy its natural beauty.

From times immemorial, Himachal Pradesh has always been one of the greatest contributors towards building tourism resulting in better economic development and success for the nation.

Himachal Pradesh is a land of opportunities and has scaled new heights of development. The State has a legacy of being an investor-friendly region with an enterprising and approachable Government and is now emerging as a preferred investment destination in Northern India, on account of its enabling policy framework, complementing industrial infrastructure, and high Ease of Doing Business ranking.

The State is appropriately positioned for welcoming investment on account of surplus and affordable power, efficient law & order, congenial industrial relations, availability of skilled manpower, accessible government, and proactive governance.

On account of the above advantages and facilities, Himachal Pradesh has been sanctioned a Medical Devices Park, the first in north India, the foundation stone of which was laid by the Hon’ble Prime Minister Narendra Modi. Spread over 265 acres in Nalagarh, Solan, the Medical Devices Park is connected to global supply chains through road and rail networks as well as airports and is in close proximity to prestigious institutes of “National Importance” such as IIT-Mandi, NIT-Hamirpur, IIM-Sirmour, IIIT-Una & NIPER –Mohali. Availability of supporting infrastructure such as ICD, CETP, CIPET, MSME Technology Centre, Skill Development Centre, Gas Pipeline, etc also offers an advantage.

The Government of Himachal Pradesh is offering a bouquet of liberal incentives for investors for setting up enterprises in the Medical Devices Park. Some of the key incentives and concessions are as follows: Land-Related Incentives/

Concessions: The Government of Himachal Pradesh is providing land at INR 1 per sqm per annum in the Medical Devices Park on a lease period of 33 years with an exemption of stamp duty and registration Fee.

Power Related Incentives/ Concessions: Himachal Pradesh supplies 24X7 reliable and quality power across the State. The Government of Himachal Pradesh is offering power at INR 3 per unit with an exemption of electricity duty.

Fiscal Support/Incentives: The Himachal Pradesh Government is offering an interest subvention of 7 per cent subject to a maximum of INR 52 lakh per annum with 12 years as the period of subvention from the date of operation of the Park. The Government is also providing assistance for the transport of plant and machinery to the tune of 50 per cent of the cost incurred on inland carriage and inland transit insurance of plant and machinery, subject to a maximum of INR 3 Lakh.

Common Infrastructure Facilities: The Medical Devices Park in Himachal Pradesh is set to emerge as a “one-stop facility” with an integrated ecosystem to facilitate manufacturing, stimulate innovation and R&D, and develop new technologies.

The Park is proposed to have Common Infrastructure Facilities such as 3D Design, Rapid Prototyping, Tooling Lab, Component, ESDM, EMC and EMI component testing and design facility lab, and Gama irradiation lab, resources which are seminal across the value chain of medical devices.

MoUs of more than INR 800 Crores have already been signed for setting up industries in this Medical Device Park. The Medical Devices Park in Himachal Pradesh is expecting an investment of over INR 5,000 Crore with a turnover of INR 20,000 Crore and gainful employment for about 10,000 personnel.

With excellent connectivity, competitive incentives, and proactive governance measures, Himachal Pradesh is set to emerge and establish itself as the #1 destination for Medical Device manufacturing in India and subsequently for the world.

Source: Invest India