(GIST OF YOJANA) India’s Industry Sector

(DECEMBER-2023)

India’s Industry Sector

PM gatishakti has broadly two components to achieve integration, synchronisation, prioritisation, and optimisation. First, the development of Gis-based technology platform called national Master Plan, wherein everything is linked from roads to railways, from aviation to agriculture, various ministries and departments.

This will ensure that every department has the right and accurate information on time. secondly, the administrative arrangement to integrate efforts of various line ministries/departments for synchronised development of multimodal infrastructure and the economic zone through the formation of a three-tier institutional arrangement.

National logistics policy

The national Logistics Policy (NLP) was launched in 2022.
Tt lays down an overarching interdisciplinary, cross-sectoral, multi-jurisdictional and comprehensive policy framework for the logistics sector. the policy complements the PM Gatishakti national Master Plan.
The Master Plan is aimed at integrated infrastructure development, the national Logistics Policy is envisaged to bring efficiency to logistics services, and human resources through streamlining processes, a regulatory framework, skill development, mainstreaming logistics in higher education, and the adoption of suitable technologies. its vision is to develop a technologically enabled, integrated, cost-efficient, resilient, sustainable, and trusted logistics ecosystem for accelerated and inclusive growth.

Foreign direct investment policy

DPIIT was the nodal department for the formulation of the policy on Foreign Direct investment (FDI).
It is also responsible for maintenance and management of data on inward FDI into India, based on the remittances reported by the reserve Bank of India.
With a view to attracting higher levels of FDI, a liberal policy has been put in place on FDI under which FDI up to 100 per cent is permitted under the automatic route in most sectors/activities.
After abolition of the Foreign investment Promotion Board (FIPB) in June 2017, the process for granting FDI approvals has been simplified, wherein the work relating to processing of applications for FDI and approval of the government thereon under the existing FDI Policy and FEMA is now handled by the concerned ministries/departments. The management and running of the FiF Portal is administered by DPIIT to facilitate the clearance of applications that are filed through the approval route.

Make in India

The ‘Make in India’ initiative was launched in 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 promotes India’s manufacturing domain to the world.
The initiative has significant achievements and presently focuses on 27 sectors under Make in India 2.0. this Department coordinates action plans for 15 manufacturing sectors, while Department of commerce coordinates 27 service sector plans.
Investment outreach activities are done through ministries, state governments and Indian Missions abroad for enhancing international cooperation and promoting both domestic and foreign investment in the country.

Production Linked Incentive Scheme

Production Linked Incentive (PLI) schemes for 14 key sectors were announced with an outlay of Rs 1.97 lakh crore to enhance India’s manufacturing capabilities and exports.
The PLI schemes have major objectives that include: attracting investments in sectors of core competency and cutting-edge technology; make Indian companies and manufacturers globally competitive so that they can penetrate global markets and integrate with global value chains.

Startup India

The Startup India initiative was launched in 2016.The initiative aims to foster entrepreneurship and promote innovation by creating an ecosystem conducive to startup growth.
The initiative strives to provide an impetus to the entrepreneurial setup across three major pillars i.e.,

simplification and handholding,
funding support and incentives, and
industry-academia partnership and incubation.

Heavy Industries

The Ministry of Heavy Industries promotes the development and growth of automobile, capital goods and heavy electrical equipment sectors and administer 29 Central Public Sector Enterprises (CPSEs) engaged in manufacturing, consultancy and contracting services and four autonomous organisations.

Micro, Small and Medium Enterprises

The Micro, Small and Medium Enterprises (MSME) sector has emerged as a highly vibrant and dynamic sector of the Indian economy over the last seven decades.
MSMEs not only play a crucial role in providing large employment opportunities at comparatively lower capital costs than large industries but also help in industrialisation of rural and backward areas, thereby reducing regional imbalances and ensuring more equitable distribution of national income and wealth.
MSMEs are complementary to large industries as ancillary units, and this sector contributes enormously to the socio-economic development of the country.

Khadi and Village Industries Commission

Khadi and Village Industries Commission (KVIC) established under the Act of Parliament and as amended in 1987 and 2006, is a statutory organisation under the Ministry of MSME engaged in promoting and developing Khadi and Village Industries (KVI) for providing employment opportunities in the rural areas, thereby strengthening the rural economy.
KVIC has been identified as one of the major organisations in the decentralised sector for generating sustainable non-farm employment opportunities in rural areas at a low per capita investment.

Indian Bureau of Mines

Indian Bureau of Mines established in March 1948, is a multidisciplinary scientific and technical organisation under the Ministry of Mines with statutory and developmental responsibilities for conservation and systematic exploitation of mineral resources other than coal, petroleum, natural gas, atomic minerals and minor minerals.

Way forward:

National Logistics Policy lays down an overarching interdisciplinary, cross-sectoral, multi-jurisdictional, and comprehensive policy framework for the logistics sector. The policy complements the PM GatiShakti National Master Plan.
PM GatiShakti National Master Plan is aimed at integrated infrastructure development, the National Logistics Policy is envisaged to bring efficiency to logistics services and human resources through streamliningprocesses and the adoption of suitable technologies.