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

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Q: 63 (CAPF/2015)

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

question_subject: 

Economics

question_exam: 

CAPF

stats: 

0,44,39,20,3,16,44

keywords: 

{'investment': [0, 0, 0, 1], 'innovation': [0, 0, 2, 6], 'domestic companies': [0, 0, 1, 1], 'india': [8, 1, 7, 13], 'foreign investors': [0, 0, 0, 4], 'initiative': [2, 0, 1, 23], 'finance': [5, 2, 5, 15], 'government': [5, 0, 0, 1], 'new technology': [0, 0, 1, 1], 'programme': [0, 0, 8, 15], 'key sectors': [0, 0, 0, 1]}

The ‘Make in India’ initiative of the Government of India focuses on promoting manufacturing and attracting foreign investments. It aims to boost job creation, enhance skills, and encourage innovation in several sectors.

Option 1 states that a body named ‘Invest India’ has been created to guide foreign investors. This is correct, as Invest India has been established as the National Investment Promotion and Facilitation Agency of India.

Option 2 mentions that the government has identified key sectors with the potential to attract investment. This is also correct, as the initiative focuses on sectors like aerospace, automobiles, chemicals, construction, defense manufacturing, and more.

Option 3 states that the initiative aims to identify selected domestic companies with leadership in innovation and new technology to turn them into global champions. This is also correct, as the initiative seeks to encourage and support domestic companies to become globally competitive.

Option 4, however, states that the program is being implemented by the Ministry of Finance. This statement is incorrect. The ‘Make in India’ initiative is not implemented by the Ministry of Finance but is under the purview of the Ministry of Commerce and Industry.

In conclusion, the correct answer is option 4, as it provides incorrect information regarding the implementation of the ‘Make in India’ initiative.