The document outlines several key policy initiatives and regulatory reforms implemented under the Modi-led government in India, which aim to improve the business environment and attract foreign investment.
-
Make in India: Launched in 2014, this initiative seeks to establish India as a global manufacturing hub. It relaxes foreign direct investment (FDI) policies in sectors like automobiles, electronics, construction, renewable energy, mining, and textiles, among others. The Department of Industrial Policy and Promotion oversees this program, ranking states based on their ease of doing business.
-
Digital India: Initiated in 2015, this program aims to transform India into a digitally empowered society. It focuses on strategies such as broadband infrastructure, mobile connectivity, e-governance, and promoting digital services and manufacturing. The government encourages states to identify additional projects aligned with their socio-economic goals.
-
Skill India: Targeting India's demographic dividend, this initiative aims to train 400 million people by 2022. Key schemes include the PMKVY (Pradhan Mantri Kaushal Vikas Yojana) and the Skill Loan scheme, aiming to address skill shortages in the workforce.
-
Startup India: Recognizing the importance of startups in driving job creation and economic growth, the government introduced the Startup India Action Plan in 2016. This includes regulatory and tax benefits for startups, exemptions on capital gains tax, simplified entry and exit norms, and support for intellectual property rights.
-
Smart Cities Mission: This urban development initiative aims to improve and make 100 cities citizen-friendly and sustainable. It involves infrastructure development through a competitive selection process, offering opportunities for investment in the infrastructure sector.
These initiatives collectively signal the Modi government's commitment to creating a more business-friendly environment, enhancing India's attractiveness as an investment destination, and fostering economic growth through strategic policy reforms.
