Make In India: All that's happened at the Mumbai event so far

Even as the massive fire that broke out is what people are remembering the ongoing high profile ‘Make in India’ week for, a lot of conversations have ensued between global industrial groups, influential industrialists, politicians, companies and the government which will pave the way for realizing the ‘Make In India’ in the future.

Some of the key developments that have taken place at this event are:

National capital goods policy to be launched

The national capital goods policy will soon be launched at the Make in India week. The policy will give a big boost to the manufacturing sector of India.

The policy proposes to integrate major capital goods sub-sectors such as textile, earth moving and plastic machinery among others as priority sectors under Make in India initiative.

To boost exports govt has also proposed to set up Heavy Industry Export and Market Development Assistance Scheme along with the creation of a technology development fund. The start ups would also get enhanced resources under this policy for capital goods sector.



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Telecom Ministry seeks 10-year tax holiday for Make in India drive

The telecom ministry has proposed a 10-year tax holiday for mega projects in the sector as part of its recommendations for the upcoming Union Budget that are aimed at attracting fresh investments for the Make in India programme. The ministry also suggested excise duty exemption for a range of electronic equipment, which would help lead to the creation of a much-needed manufacturing ecosystem in the country.

Make in India: Birla, Mahindra want new technology to revolutionize Indian manufacturing

Indian industry captains Kumar Mangalam Birla and Anand Mahindra spoke about the need to bring in new technology and digitization to the manufacturing sector rather than depend solely on cheap labour to make Prime Minister Narendra Modi's 'Make in India' initiative successful. Birla said that to assume India is not innovative enough is wrong but added that India is highly dependent on western companies for fundamental research, something that needs to change.

(Image credits: BCCL)