Page 20 - NIS English 16-30 Sep 2024.pdf

A decade of
Make in India
Cover Story
Biotechnology

Bio-economy grows
13 times
Make in India is based on four pillars The Make in India initiative has
seen significant growth in the
Indian biotechnology sector
The Make in India program, launched to promote
over the decade. The bio-
entrepreneurship in India not only in manufacturing
economy has grown from $10
but also in other sectors, is based on four pillars.
billion to $130 billion in a decade. This has been possible
due to government initiatives and investments made
New Methodology: Make in India believes that
by the Government of India to promote innovation
the most important component to promote
and development in this sector. The bio-economy is
entrepreneurship is the ease of doing business.
projected to reach $300 billion by 2030.
Several initiatives have already been launched
to ease the business environment. It aims to de-
license and de-regulate the industry throughout the
business cycle.
New Infrastructure: The availability of modern billion dollars billion dollars
and convenient infrastructure is a very important 130 10 Growth:
requirement for the development of industries. The 13 times
government intends to build industrial corridors 2024 2014
and smart cities to provide infrastructure based
on modern high-speed communication and Shipping Sector
integrated logistics arrangements as well as
excellent technology. The existing infrastructure will
n The shipping sector has seen remarkable
be strengthened by improving the infrastructure in
growth and transformation over the last
industrial clusters.
decade. In 2014, the total cargo handling was
New Sectors: Make in India has identified 25 sectors 871.52 million tonnes. It is expected to increase
across manufacturing, infrastructure, and services to 1,629.86 million tonnes in 2024 i.e. an increase
activities and detailed information is being shared of 87.01%.
through an interactive web portal and professionally
n
designed brochures. By 2024, the sector is set to expand significantly
with initiatives such as the Sagar Mala program
New Thinking: The industry has been accustomed to and Maritime India Vision 2030, which aim to
seeing the government as a regulator. Make in India enhance port infrastructure, promote coastal
aims to change this mindset by bringing about a shipping and develop new ports.
paradigm shift in the government’s interaction with
industry. The government will partner with industry in n The government has introduced the
the country’s economic development. Our approach Shipbuilding Financial Assistance Policy (2016-
will be that of a facilitator and not a regulator. 2026) and Subsidy Scheme to promote Indian
flag merchant shipping, which will provide
Make in India is praised by business tycoons in India financial support to
as well as world leaders. The world is keen to partner Indian shipyards and
with India in this landmark initiative. shipping companies
as well as enhance
maintain this momentum in the times to come. domestic capacity.
Union Minister for Electronics and Information
Technology Shri Ashwini Vaishnaw said in an X post n India has jumped from
that India's electronics exports have now joined the 44th rank in Bank's Logistics
the World
top 3. He said that this is a testimony to the special Performance Index 2014 to 22nd
emphasis on Make in India and India is committed rank in 2023 in international
to maintain this momentum in the times to come. shipments.
The Prime Minister had also recently praised the

18 New India Samachar September 16-30, 2024