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The 'Make in India’ campaign to be launched by Prime Minister Narendra Modi next week will aim at pushing manufacturing growth to over 10 per cent annually.
The BJP Government aims to do so through sustained measures of deregulation and delicensing of industry and making India more accessible to investors by addressing the queries and concerns on a regular basis.
“We want to get rid of the impression that India is an unfriendly country to deal with. We will aim to make the going as easy for investors as possible,” an official from the Department of Industrial Policy & Promotion (DIPP) said.
The DIPP has identified 3,000 companies from 30 countries spread across 10 sectors which it would target for greater investments through sustained dialogue as part of the campaign, a Government official said.
The sectors include automobile, pharmaceutical, food processing, IT, electronics and textiles.
The campaign, to be launched on September 25, will see participation from CEOs from big companies, including Japanese and Korean.
Three-layered process
In order to ensure all the queries and concerns of investors are addressed to their satisfaction, the DIPP has decided to address them systematically through a three-layered process.
Simple queries will be answered through the automatic answering process already in place. More complex queries will be handled by a team of eight experts put in place by the DIPP which includes economists and legal experts.
Questions that require fine interpretation of policy will be tackled by nodal officials who have been put in place in all ministries and departments, while more elaborate queries will be handled by the DIPP Secretary.
Delicensing, reregulating
The campaign will also focus on delicensing and reregulating. The Centre, recently, delicensed defence production and is also doing so in construction activity. However, a lot needs to be done at the State-level, the official said. “The DIPP is holding talks with State Governments on how they can smoothen things at their end,” the official pointed out.
There will be a "vigorous'' digital campaign undertaken by the DIPP to advertise the efforts to attract more investments.
However, officials admit, that achieving a growth rate over 10 per cent for manufacturing is an ambitious target, especially with the sector not doing well at present. “The target is ambitious but we do not have an alternative. Manufacturing has to grow fast for our economy to do well,” the official said.
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