Make in India 2.0 (round two), set for launch in February 2018, is to focus on such futuristic areas as robotics, genomics, chemical feedstock and electrical storage to prepare the country for the global economic opportunities that will arise in the coming years. This was announced in January 2018.
The ‘Make in India’ initiative was launched by the Indian prime minister, Narendra Modi, in September 2014, as part of a wider set of nation-building initiatives. Devised to transform India into a global design and manufacturing hub, ‘Make in India’ was meant to be a timely response to a critical situation: by 2013, the much-hyped emerging markets bubble had burst, and India’s growth rate had fallen to its lowest level in a decade. The initiative has so far stressed on 25 sectors, which include automobiles, textiles, construction and aviation, to create employment opportunities and boost local manufacturing.
About Round 2
The Department of Industrial Policy and Promotion (DIPP) wants ‘Make in India’ 2.0 to focus on a few areas having the long-term potential to achieve upward movement for India in the global supply chain. For this round, the department is in the process of a five-year roadmap for each of the priority sectors that would be covered under the programme. The government will identify the need for policies and regulations at various levels viz., centre, state and local. It will utilise existing mechanisms to collate information and devise strategies under the new round, instead of forming all-new committees.
Round two is being launched at a time when the manufacturing industry seems to be lagging behind, in part due to a tepid global economy that has affected export demand.