Other National Initiatives taken by Government of India

The National Institution for Transforming India (NITI Aayog), after its push for Rs. 6000 crore textile sector package aims to persuade the Government for similar support in the manufacturing sector with large-scale employment generation opportunities such as electrical and electronics engineering, footwear and light manufacturing segments, which also have export potential.

• The Ministry of Labour and Employment relaxed compliance measures for MSMEs by exempting them from inspections related to key labour laws in order to encourage entrepreneurs to help promote manufacturing in India.
• The Government of India plans to give a big boost to local manufacturing by introducing the new ‘Make in India Green Channel’.
• Gujarat government has set up electronics products manufacturing hub in the state, through its newly announced Electronics Policy 2016, which will generate about 500,000 jobs in the electronics sector in the next five years.
• The Ministry of Heavy Industries and Public Enterprises, in partnership with industry associations, has announced creation of a start-up centre and a technology fund for the capital goods sector to provide technical, business and financial resources and services to start-ups in the field of manufacturing and services.
• The Government of India implemented a new Defence Procurement Policy (DPP) 2016 which prioritizes indigenously made defence products and opens up 25 per cent share of defence production to private firms.
• NITI Aayog released a blueprint for various technological interventions which needs to be incorporated by the Indian manufacturing sector to have a sustainable edge over competing neighbours like Bangladesh and Vietnam.
• The government launched the Technology Acquisition and Development Fund (TADF) under the National Manufacturing Policy (NMP) to facilitate acquisition of clean, green and energy efficient technologies, by Micro, Small & Medium Enterprises (MSMEs).
• Entrepreneurs of small-scale businesses in India have been allowed to avail loans under Pradhan Mantri MUDRA Yojana (PMMY).