"The Make in India campaign promises to fast-track India's growth trajectory by making it a manufacturing hub. Made in India, Made by India but Made for the World, with the vision of empowering Indians by creating job opportunities, the campaign is the PM's ingenious formula to position India as the centrepiece of Asia's next growth story,” Assocham President Rana Kapoor said. READ MORE: Industry captains pledge support to PM's 'Make in India' campaign
"With the promise of effective and easy governance, enabled by IT, this campaign will be a game changer to facilitate true convergence of innovative ideas – both from within India and from overseas," Kapoor said.
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.
CII President Ajay Shriram said an initiative to ease procedures and attracting investments into the sector had been made at the right time.
"It is the only way to generate employment for the large pool of young people joining the labour force every year. As mentioned by the Prime Minister, the purchasing power of the people can be enhanced and demand created only if they have employment opportunities," Shriram said.
"It will take some time but I think it (Make in India) will get manufacturing on the centrestage and I think in due course it is going to help. We have to look at labour laws, land acquisition, we have to look at the regulations and infrastructure because today infrastructure is impeding the competitiveness,” he said.
"If you want manufacturing to take place, and the government has shown its commitment, you must also do other 20 things and I think that commitment will follow. I think it is already in progress and over the next 6 months we will see the results coming out," Ficci President Sidharth Birla said.
Executive Director at PricewaterhouseCoopers (PwC) India Vivek Mehra said: "On one hand the import regime has become very facilitative with substantial lowering of customs duty, abolishing of importing licences and free availability of foreign exchange.”
"On the other hand manufacturing continues to suffer from infrastructure bottlenecks, environmental clearances and an unfriendly tax regime - both direct and indirect, which manifests itself as anti-manufacturing and therefore not providing a level-playing field for manufacturing in India vis a vis imports,” he said.
Industry leaders from both India and abroad on Thursday pledged their support to the government's 'Make in India' campaign and sought stable tax structure, labour law reforms and expeditious decision-making to make it a reality.
At the star-studded launch of Prime Minister Narendra Modi's ambitious programme, attended by the likes of Reliance Industries Chairman Mukesh Ambani, Tata Group chief Cyrus Mistry and Aditya Birla Group's Kumar Mangalam Birla, industry leaders said job creation and high growth would be possible only if the manufacturing sector gets into a high growth trajectory.
"Our aspirations on the global manufacturing arena will be fulfilled if we address certain challenges on priority," Mistry said while addressing the gathering.
"These factors will include the build-up of critical infrastructure across the country supported by stable policies, transparent and competitive tax and duty structure, efficient and time-bound administration through the use of e-governance, cost effective and reliable energy coupled with logistics, critical for the competitiveness of industry," Mistry added.
Pledging his support to the initiative, Ambani said in order to succeed in this campaign, it was important to be open to capital and expertise from all over the globe, and implementation of GST will make India one market and strengthen overall Make in India programme.
He further said: "Make In India is about the present and the future, 'Made' is always in the past...We commit ourselves to the Make In India movement that was given to a billion Indians by our PM."
Ambani, who announced that Reliance Industries would create 1.25 lakh jobs in the next 12-15 months, further said it was also important for villages to stay connected to be a part of growth story.
"It is important to connect village clusters with international markets and not only domestic markets by building physical infrastructure and virtual infrastructure so that all our goods and services are connected to all markets," he said.
"The Make in India campaign promises to fast-track India's growth trajectory by making it a manufacturing hub. Made in India, Made by India but Made for the World, with the vision of empowering Indians by creating job opportunities, the campaign is the PM's ingenious formula to position India as the centrepiece of Asia's next growth story,” Assocham President Rana Kapoor said.
READ MORE: Industry captains pledge support to PM's 'Make in India' campaign