Zee Media Bureau
New Delhi: Seeking to make the country a global manufacturing hub, Prime Minister Narendra Modi on Thursday launched the ambitious 'Make in India' campaign in the presence of global and domestic CEOs.
Laying out the red carpet before investors, the prime minister said: "After what we have done and what I hear from you, I don`t think I need to assure you any further on `Make in India`." He hoped industry across the globe will take his invite seriously.
He said he was saddened in the past to see scores of Indians leaving the country to seek opportunities elsewhere. People have lost faith in Indian manufacturing and themselves. "We do not want any industrialist being forced to leave India," he said.
"A trust was broken -- that when a policy will be changed, when will the CBI (Central Bureau of Investigation) come. This is what I heard from all you. The biggest issue is trust. Why don`t we trust each other? I want to change that."
The prime minister said for him the term FDI for the domestic industry did not expand to "foreign direct investment" but "first develop India". "We have to create opportunities of employment. If the poor get jobs the purchasing power of families will increase."
Ahead of the launch of the campaign, Commerce Minister Nirmala Sitharaman said a number of steps had already been taken by the Modi government to make it easier to do business in India along with the removal or relaxation of foreign equity caps in several areas.
"The processes of applying for licences has been made online, it is 24/7. The validity of such licences has also been extended to three years," Sitharaman said, adding several norms and procedures have also being changed to make it easier to do business in India.
"This programme offers a unique and timely opportunity to make India truly global," Tata Sons chairman Cyrus Mistry said, adding, countries attain high standards with a vibrant industrial economy and the biggest challenge is to create jobs for millions of youth.
Kenichi Ayukawa, managing director of Maruti Suzuki India, said his Japanese group was among the first to invest in India and remains committed to the country. He said he was sure India will eventually become one of the most competitive economies.
"Today we commit ourselves to the `Make in India` movement that was given to us by our beloved prime minister," Reliance Industries chairman Mukesh Ambani said. He said the main task before the industry in India was to achieve global competitiveness.
Other high-profile CEOs, remained 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.
Here is what the PM said:
12:30 PM
-Govt is committed to growth, there is no political agenda but article of faith: PM
-States and Centre should work as a team; development of states is development of India: Modi
-Effective governance, easy governance need of the hour: Modi
-Don't want any industrialist to be forced to leave India: Modi
-Trust in govt is a must to increase investment in any country: Modi
-We have reversed the trend of investors going outside the country : Modi
-Rule of law should be there, corporate government responsibility should be the norm: Modi
-For global investors, FDI is an opportunity
-Rule of law should be there, corporate government responsibility should be the norm: Modi
-Manufacturing boost will create jobs, increase purchasing power, thereby creating larger market for manufacturers: Modi
- Be assured you will not lose your money: Modi to industrialists
-We want to ensure skill development through PPP model: Modi
- Glad to see Indian industry convinced of govt commitment: Modi
-Not just good governance, effective governance is also required: Modi
-Unveiling 'Make in India' initiative, Modi said industrialists don't come because of incentives, need to create development and growth-oriented environment .
-We need highways and i-ways (information ways): Modi
-FDI for me is first develop India : Modi
11:44 AM
Problems of inflation, unemployment can be resolved through domestic manufacturing: ITC Chairman Y C Deveshwar
My next investment destination is Madhya Pradesh: ITC Chairman
11:33 AM
Manufacturing will enhance country's macro-economic stability besides creating jobs: ICICI Bank CEO & MD Chanda Kochhar
Need to focus on ease of doing business; quick, simple and transparent decision-making: Kochhar.
11:30 AM
True success of manufacturing lies in ability to service global markets: Azim Premji
11:24 AM
Manufacturing has to become the next big wave for us: Kumar Mangalam Birla.
11:14 AM
Important for us to succeed in 'Make in India' for global competitiveness: Mukesh Ambani
-Important for us to succeed in 'Make in India' for global competitiveness: Mukesh Ambani.
-Cost of Mars mission is just Rs 7 per kilometre, equivalent to cost of travel in most cities in India: Mukesh Ambani.
-It is important to be open to capital and expertise from all over the world: Ambani.
-Implementation of GST will make India one market and strengthen overall 'Make in India' programme: Ambani.
-Reliance Industries to create 1.25 lakh jobs in next 12-15 months: Mukesh Ambani.
11.02 AM
Tata Group Chairman Cyrus Mistry said there is a need to reform labour laws. He also added that the Tata Group is fully committed to investing in India.
11 AM
The government has been able to change perception of India in last few months, Commerce and Industry Minister Nirmala Sitharaman said at 'Make in India' launch event today.
The minister further said validity on industrial licences will be extended to 3 years and the government is now amending number of labour laws.
Sitharaman said a series of measures have been taken on ease of doing business and the government is fully commited to de-licensing, deregulating and taking India to high growth trajectory.
The campaign is aimed at making India a manufacturing hub, and the government is pulling out all the stops for ensuring a smooth sailing for investors, by setting up a dedicated cell to answer queries of business entities within 72 hours.
It will also closely monitor all regulatory processes to make them simple and reduce the burden of compliance.
"The government is committed to chart out a new path, wherein business entities are extended red carpet welcome in a spirit of active cooperation. Invest India will act as the first reference point for guiding foreign investors on all aspects of regulatory and policy issues and to assist them in obtaining regulatory clearances," said an official statement.
The government has identified 25 key sectors in which our country has the potential of becoming a world leader.
Investor facilitation cell will provide assistance to the foreign investors from the time of their arrival in the country to the time of their departure, with focus on green and advanced manufacturing and helping these companies to become an important part of the global value chain.
The campaign will target top companies across sectors in identified countries. It also aims to identify select domestic companies having leadership in innovation and new technology for turning them into global champions.
The initiative has its origin in the Prime Minister's Independence Day speech where he gave a clarion call to 'Make in India' and 'Zero Defect; Zero Effect' policy.
A dedicated cell has been created through the web portal (www.Makeinindia.Com) to answer queries from business entities. While an exhaustive set of FAQs on this portal will help the investor find instant answers to their general queries, the back-end support team of the cell would be answering specific queries within 72 hours.
A pro-active approach will be deployed to track visitors for their geographical location, interest and real-time user behaviour. Subsequent visits will be customised for the visitor based on the information collected. Visitors registered on the website or raising queries will be followed up with relevant information and newsletter.
