Make in India Policy – Part I
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| Shri Narendra Modi, Prime Minister of India |
Launching his government’s ambitious project to make India a manufacturing hub, Prime Minister Narendra Modi promised effective and easy governance to help achieve high growth and creation of jobs. The ambitious scheme, that also puts in place the logistics and systems to address in a timely manner queries of potential investors, was unveiled along with a logo, a portal and brochures on 25 identified growth sectors before Who’s Who of the corporate world from India and abroad at the Vigyan Bhavan conference complex.
A major new national program designed to facilitate investment, foster innovation, enhance skill development, protect intellectual property and build the best-in-class manufacturing infrastructure are the primary reasons to take an interest in this program which is designed to transform India into a global manufacturing hub. New smart cities and industrial clusters, are being developed in identified industrial corridors having connectivity, new youth-focused programs and institutions dedicated to developing specialized skills.
With the easing of investment caps and controls, India’s high- value industrial sectors – defense, construction and railways – are now open to global participation 100% FDI allowed in Defense sector for modern and state of the art technology on case to case basis.100% FDI under automatic route permitted in construction, operation and maintenance in some specified Rail Infrastructure projects.
Most importantly, the Make in India program represents an attitudinal shift in how India relates to investors, not as a permit-issuing authority, but as a true business partner. Dedicated teams that will be guiding and assisting first-time investors, from their time of arrival. Focused targeting of companies across sectors.
Investment allowance (additional depreciation) at the rate of 15 percent to manufacturing companies that invest more than INR 1 billion in plant and machinery available till to 31.3.2015. Each state government has its own incentive policy, which offers various types of incentives based on the amount of investments, project location, employment generation, etc. The incentives differ from state to state and are generally laid down in each state’s industrial policy. The broad categories of state incentives include: stamp duty exemption for land acquisition, refund or exemption of value added tax, exemption from payment of electricity duty etc.
The Indian government has also taken several initiatives to create a conducive environment for the protection of intellectual property rights of innovators and creators by bringing about changes at legislative and policy level. In addition, specific focus has been placed on improved service delivery by upgrading infrastructure, building capacity and using state-of-the-art technology in the functioning of intellectual property offices in the country. This measure has resulted in sweeping changes in IP administration within the country.
There is now efficient processing of IP applications by inducting additional manpower, augment IT facilities and automation in Intellectual Property Offices. The adoption of best practices in IP processing. The strengthening of public delivery system of IP services. There now are highest levels of transparency and user-friendliness. The IPR framework in India is stable and well established from a legal, judicial and administrative point of view and is fully compliant with the Agreement on Trade-Related Aspects of Intellectual Property Rights. India is committed to wide range of international treaties and conventions relating to intellectual property rights. Wide range of awareness programs are being conducted by the Government. During the last few years, Indian IP offices have undergone major improvements in terms of upgrading of the IP legislation, infrastructure facilities, human resources, the processing of IP applications, computerization, databases, quality services to stakeholders, transparency in functioning and free access to IP-data through a dynamic website. State of the art, integrated and IT- enabled office buildings have been created during the last few years in New Delhi, Kolkata, Chennai and Mumbai and Ahmedabad, housing central wings for Patents and Designs and Trademarks and Geographical Indications.
A major new national program designed to facilitate investment, foster innovation, enhance skill development, protect intellectual property and build the best-in-class manufacturing infrastructure are the primary reasons to take an interest in this program which is designed to transform India into a global manufacturing hub. New smart cities and industrial clusters, are being developed in identified industrial corridors having connectivity, new youth-focused programs and institutions dedicated to developing specialized skills.
With the easing of investment caps and controls, India’s high- value industrial sectors – defense, construction and railways – are now open to global participation 100% FDI allowed in Defense sector for modern and state of the art technology on case to case basis.100% FDI under automatic route permitted in construction, operation and maintenance in some specified Rail Infrastructure projects.
Most importantly, the Make in India program represents an attitudinal shift in how India relates to investors, not as a permit-issuing authority, but as a true business partner. Dedicated teams that will be guiding and assisting first-time investors, from their time of arrival. Focused targeting of companies across sectors.
Investment allowance (additional depreciation) at the rate of 15 percent to manufacturing companies that invest more than INR 1 billion in plant and machinery available till to 31.3.2015. Each state government has its own incentive policy, which offers various types of incentives based on the amount of investments, project location, employment generation, etc. The incentives differ from state to state and are generally laid down in each state’s industrial policy. The broad categories of state incentives include: stamp duty exemption for land acquisition, refund or exemption of value added tax, exemption from payment of electricity duty etc.
The Indian government has also taken several initiatives to create a conducive environment for the protection of intellectual property rights of innovators and creators by bringing about changes at legislative and policy level. In addition, specific focus has been placed on improved service delivery by upgrading infrastructure, building capacity and using state-of-the-art technology in the functioning of intellectual property offices in the country. This measure has resulted in sweeping changes in IP administration within the country.
There is now efficient processing of IP applications by inducting additional manpower, augment IT facilities and automation in Intellectual Property Offices. The adoption of best practices in IP processing. The strengthening of public delivery system of IP services. There now are highest levels of transparency and user-friendliness. The IPR framework in India is stable and well established from a legal, judicial and administrative point of view and is fully compliant with the Agreement on Trade-Related Aspects of Intellectual Property Rights. India is committed to wide range of international treaties and conventions relating to intellectual property rights. Wide range of awareness programs are being conducted by the Government. During the last few years, Indian IP offices have undergone major improvements in terms of upgrading of the IP legislation, infrastructure facilities, human resources, the processing of IP applications, computerization, databases, quality services to stakeholders, transparency in functioning and free access to IP-data through a dynamic website. State of the art, integrated and IT- enabled office buildings have been created during the last few years in New Delhi, Kolkata, Chennai and Mumbai and Ahmedabad, housing central wings for Patents and Designs and Trademarks and Geographical Indications.
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