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Q63 (CAPF/2015) Economy › Industry, Infrastructure & Investment › Industrial policy reforms Answer Verified

Which one of the following statements with regard to the ‘Make in India’ initiative of the Government of India is NOT correct ?

Result
Your answer: —  ·  Correct: D
Explanation

The 'Make in India' initiative was launched on September 25, 2014, to transform India into a global manufacturing hub [4]. Statement 4 is incorrect because the programme is not implemented by the Ministry of Finance; instead, it is spearheaded by the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry [3]. Statement 1 is correct as 'Invest India' was established as the national investment promotion agency to facilitate and guide foreign investors [5]. Statement 2 is correct as the government identified 25 (later 27 under version 2.0) key sectors, such as aerospace, defense, and food processing, to attract investment [4]. Statement 3 is correct as the initiative aims to foster innovation and help Indian companies excel in the global supply chain, turning them into global champions [7].

Sources

  1. [2] Geography of India ,Majid Husain, (McGrawHill 9th ed.) > Chapter 11: Industries > Make in India > p. 115
  2. [4] Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 7: Indian Economy after 2014 > Make in India > p. 230
  3. [1] Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 12: Indian Industry > CHAMPION SECTORS IN INDIA In 2020, GOI identified champion sectors in both manufacturing and services sectors (total 27), > p. 402
  4. [3] Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 2: Money and Banking- Part I > 2.23 Foreign Investment > p. 98
  5. [5] https://www.dpiit.gov.in/ministry/about-us/details/Title=Make-in-India-(MII)-ITMwETMtQWa
  6. [6] https://www.mea.gov.in/Images/attach/Make_in_India_Initiative.pdf
  7. [7] https://mea.gov.in/Images/attach/Make_in_India_Initiative.pdf
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