“Make in India” wins the 2015- Economic Development Innovation Award

“Make in India” wins the 2015- Economic Development Innovation Award for Policy and Program Implementation Excellence 


Frost and Sullivan, USA today presented the 2015 Asia – Pacific Economic Development Innovation: Policy and Program Implementation Excellence Award in Manufacturing to Department of Industrial Policy and Promotion for the Make in India initiative.

Frost & Sullivan, a US based Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation, and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 54 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on 6 continents.
The award is in recognition of the outstanding contribution of the Make in India program’s vision and implementation excellence to simplify the regulatory framework, reinforce connectivity and incentivize investments.

After a detailed 10 step process the independent global experts arrived at the GIL-100 Index: Manufacturing Index for 2015 on Manufacturing Excellence. The Make in India program has scored the highest in this data driven GIL Index on vision and implementation, among 100 Countries. The two underlying principles of evaluation were:

Enabling Vision: Vision for Development Strategy and Vision Congruence, Role of Agency in Policy Design, Industry Focus and Funding and Innovative Programs

 Implementation Excellence: Effective Channelization of Resources, Effective Program Coordination and Execution, Program Reach and Accessibility, Infrastructure Development and Implementation Success

The award recognizes that the Make in India initiative has become a catalyst to India’s booming domestic manufacturing sector. The initiative has propelled progress towards high value-added manufacturing growth and heavy investment attraction. With the help of operational and legal relaxations, effective infrastructure programs and schemes, and focusing focus on upgrading the strength of skill sets, the Make in India initiative has facilitated the government’s persistent efforts to attract investments from around the world. The initiative’s aggressive efforts towards reinforcing connectivity, channelizing production methodologies, and maximizing effective investment incentives have put India on a path to excellence. The award is a mark of recognition for Make in India’s outstanding contributions to nurture the country’s economic and industrial transformation, and for steering the country towards an environment conducive to domestic and global manufacturing and investment.
The 360 degree research methodology acknowledges the fact that achieving excellence in Policy and Program Implementation is never an easy task; it is even more difficult with today’s competitive intensity and economic uncertainty—not to mention the challenge of gaining global and regional mindshare with industry captains, governments, and trade agencies. In this context, your receipt of this award signifies an even greater accomplishment.

The Award was received by Mr. Amitabh Kant, Secretary Department of Industrial Policy and Promotion on 14th July, 2015. 

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48% Growth in FDI Equity Inflows after Make in India 

The growth in FDI has been significant after the launch of Make in India initiatives in September 2014, with 48 percent increase in FDI equity inflows during October 2014 to April 2015 over the corresponding period last year. In 2014-15, country witnessed unprecedented growth of 717 percent, to US $ 40.92 billion of Investment by Foreign Institutional Investors (FIIs). The FDI inflow under the approval route saw a growth of 87% during 2014-15 with inflow of US$ 2.22 billion despite more sectors having been liberalized during this period and with more than 90 percent of FDI being on automatic route. These indicators showcases remarkable pace of approval being accorded by the government and confidence of investors in the resurgent India. 

The increased inflow of Foreign Direct Investment (FDI) in India especially in a climate of contracting worldwide investments indicates the faith that overseas investors have imposed in the country's economy and the reforms initiated by the Government towards ease of doing business. The Make in India initiatives of the Government and its outreach to all investors have made a positive investment climate for India which is evidenced in the results for the last financial year especially the second half. 

The FDI inflow during the financial year 2014-15 was spread across the sectors evidencing the fact of positive eco-system of investment opportunities which India is now providing- Services Sector (US$ 3.2 billion), Telecommunication (US$2.8 billion), Trading (US$ 2.7 billion), Automobile Industry (US$ 2.5 billion), Computer Software & Hardware (US$ 2.2 billion), Drugs & Pharmaceuticals (US$1.5 billion) and Construction (Infra) activities ( US$ 0.75 billion). 

Government amended the FDI policy to further enable a positive investment climate and sync it with the vision and focus areas of the present Government such as affordable housing, smart cities, financial inclusion and reforms in railway infrastructure. The Construction Development Sector was allowed easy exit norms with rationalized area restrictions and due emphasis on affordable housing. The FDI cap in insurance and pension sector has been raised to 49 per cent. 100 per cent FDI has been allowed in railway infrastructure (excluding operations) and also in the medical devices sector. Further the definition of NRI was expanded to include OCI cardholders as well as PIO cardholders. NRIs investment under Schedule 4 of FEMA (Transfer or Issue of Security by Persons Resident Outside India) Regulations will be deemed to be domestic investment made by residents, thereby giving flexibility to NRIs to invest in India. 

The Foreign Policy Magazine in its present analysis on a vast number of parameters has rated India as the No.1 destination in the world. Frost & Sullivan, a US based agency has on number of indicators selected the Make in India initiative as the best initiative to drive manufacturing. 

India stands committed to have a FDI policy and regime which is investor friendly and also promotes investment leading to increased manufacturing, job creation and overall economic growth of the country. 

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