Which of the following statement(s) is/are correct about 'Make in India' Programme?

1. 'Make in India' Programme was launched in the year 2014.

2. It aims at encouraging companies for manufacturing in India and facilitating investment.

Select the correct answer from the code given below.

Question

Question

This question was previously asked in

UPPSC Combined State Exam 12 June 2022 Official General Studies - I

Answer 1

The correct answer is Both 1 and 2.

Key Points

Make in India:

"Make in India campaign" was launched by the Prime Minister of India on 25 September 2014. Hence, statement 1 is correct.
Objectives
- To attract foreign investment for new industrialisation and develop the already existing industry base in India to surpass that of China.
- The target of an increase in manufacturing sector growth to 12-14% per annum over the medium term. Hence, statement 2 is correct,
- To increase the share of the manufacturing sector in the country’s Gross Domestic Product from 16% to 25% by 2022.
- To create 100 million additional jobs by 2022.
- To promote export-led growth.
The Make in India website also has listed the 25 focus sectors and also furnished all relevant details about these sectors, and related government schemes, including the FDI policies, IPR, etc.
For the first time, the sectors of railways, insurance, defence, and medical devices have been opened up for more Foreign Direct Investment (FDI).