Job Creation Under Make In India

The 'Make in India' initiative was launched on 25th September, 2014 to facilitate investment, foster innovation, build best in class infrastructure, and make India a hub for manufacturing, design, and innovation. It is one of the unique 'Vocal for Local' initiatives that promoted India's manufacturing domain to the world.

'Make in India' initiative has significant achievements and presently focuses on 27 sectors under Make in India 2.0. Department for Promotion of Industry and Internal Trade (DPIIT) coordinates action plans for 15 manufacturing sectors, while Department of Commerce coordinates 12 service sector plans. Investment outreach activities are done through Ministries, State Governments and Indian Missions abroad for enhancing International co-operation and promoting both domestic and foreign investment in the country.

As per Economic Survey 2021-22, in spite of covid-related disruptions there is trend of positive overall growth of gross value addition (GVA) in manufacturing sector. The total employment in this sector has increased from 57 million in the year 2017-18 to 62.4 million in the year 2019-20.

The activities under Make in India initiative are also being undertaken by several Central Government Ministries/Departments and various State Governments. Ministries formulate action plans, programmes, schemes and policies for the sectors being dealt by them, while States also have their own schemes for attracting investments.

Startup India initiative is a flagship initiative of Government of India which aims to build a strong ecosystem for nurturing innovation and Startups in the country that will drive sustainable economic growth and generate large-scale employment opportunities.

Two national level schemes are being implemented under Startup India initiative for eligible startups to secure support and funding through:

(i) Fund of Funds for Startups (FFS) Scheme: The Government has established FFS with corpus of ₹ 10,000 crore, to meet the funding needs of startups. DPIIT is the monitoring agency and Small Industries Development Bank of India (SIDBI) is the operating agency for FFS. The total corpus of  ₹ 10,000 crores are envisaged to     be provided over the 14^th and 15^th Finance Commission cycles based on progress of the Scheme and availability of funds.

(ii) Startup India Seed Fund Scheme (SISFS): The Scheme aims to provide financial assistance to startups for proof of concept, prototype development, product trials,  market entry and commercialization. It is estimated to support 3,600 entrepreneurs through 300 incubators during the period 2021 to 2025.

This information was given by the Minister of State in the Ministry of Commerce and Industry, Shri Som Parkash, in a written reply in the Rajya Sabha today.