Israel India | Business Guide | 2017

022 > General Content > Make in India Israel-India > Business Guide > 2017 Making India a Manufacturing Hub ‏ The ambitious programme of Indian Prime Minister Narendra Modi calls corporations to invest in India and transfer their production lines to the country Commercial Wing, Embassy of India in Israel ‏ I n September 2014,PrimeMinister Narendra Modi announced the "Make in India" programme - an ambitious programme aimed at making India a manufacturing hub by attracting leading global corporations to invest in India and transfer their production lines to the country.The programme aspires to increase the share of manufacturing sector in India’s GDP from the existing 16% to 25% by 2022 and generate 100 million new jobs. ‏ The means to achieve these goals are multi-pronged in nature - encouraging investments; fostering innovation; enhancing skill development; protecting intellectual property;strengthening industrial infrastructure for mass manufacturing,etc.A new framework of collaboration, involving various levels of government, has already been developed to meet these objectives. Regulatory policies have been relaxed to smoothen the ease of doing business - a decision has been taken to permit 100% FDI under government approval route for trading, including through e-commerce, in respect of food products manufactured or produced in India; in defence, FDI is now up to 100% from 49% in cases resulting in access tomodern technology in the country. ‏ A strong eco-system for nurturing innovation 25 ‏ target sectors encompassing areas such as defence manufacturing, chemicals, pharmaceuticals,food processing,electronics, electric machinery,information technology, renewable energy,etc.,have been identified under the programme.Indian Embassies and Consulates have been instructed to map out potential business corporations in their respective country of accreditation that could benefit from the programme. ‏ Several Industrial Cities are expected to come up along the six proposed industrial corridors across the country.There is visible momentum,energy,and optimism since the programme was announced. ‏ India’s ranking among the world’s 10 largest manufacturing countries has improved by three places to sixth position in 2015 and is expected to grow further.India has emerged as a fast-growing economy embracing the principles of industrialization, foreign ‏ India is focused on in-house R&D and developing international cooperation with countries with a firm technological grounding. Thus, India and Israel complement each other in this respect investment, and massive investment in infrastructure and strengthening the workforce, etc. India is also focused on in- house R&D and developing international cooperation with countries with a firm technological grounding. Thus, India and Israel complement each other in this respect. ‏ Israel has the reputation of being the Start- up Nation with a spirit of innovation and entrepreneurship. This pairs up well with India’s economies of scale and hugemarkets. ‏ Under the Startup India programme, the Indian Government plans to build a strong eco-system for nurturing innovation and Startups in the country that will drive sustainable economic growth and generate large scale employment opportunities.The Government, through this initiative, aims to empower Startups to grow through innovation and design. ‏ These factors create synergies for increased cooperation between Israeli and Indian companies in different sectors: defense, pharmaceuticals, medical devices, cyber security, electronics, telecommunications and many more. Photos by: Dreamstime.com - 1.Tiger Prawn Processing Plant, © Sivanagk, 2. Information And Communication Technology Fair, © Arindambanerjee 2 1