Make In India, Startup India: Boosting Manufacturing & Entrepreneurship

Make in India: Objectives and Evolution

• Launched by the Prime Minister in September 2014; three primary objectives:
• Elevating the growth rate of the manufacturing sector to 12-14% annually.
• Creating an additional 100 million manufacturing jobs in the economy by 2022.
• Increasing the manufacturing sector’s contribution to GDP to 25% by 2022 (later revised to 2025).
• Make in India 2.0: Focuses on 27 sectors, which include 15 manufacturing sectors and 12 service sectors.

Startup India: Objectives and Eligibility Criteria

• Launched on 16th January 2016, Programs under Startup India are managed by a dedicated Startup India Team, which reports to the Department for Industrial Policy and Promotion (DPIIT).
• As per the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry, a startup in India is defined as:
  • An entity incorporated or registered in India under the Companies Act, 2013 or the Limited Liability Partnership Act, 2008.
• Not more than 10 years old from the date of incorporation or registration.
• Turnover not exceeding ` 100 crore in any of the preceding financial years.
• Working towards innovation or development of products or processes or services or a scalable business model with high potential of employment generation or wealth creation.
• Not formed by splitting up or reconstruction of an existing business.

Stand Up India: Promoting Entrepreneurship and Inclusion

• Facilitate bank loans between 10 lakh and 1 crore to at least one SC/ST borrower and one woman borrower per bank branch for setting up greenfield enterprises.
• Encourage entrepreneurship and job creation across diverse sectors like manufacturing, services, agri-allied activities, and trading.