The Indian government is poised to unveil the ‘Made in India’ label scheme within the first 100 days if re-elected, according to three government officials familiar with the matter.
The scheme, which is nearing completion after significant groundwork, is set to be formally launched between June and September this year. Initially piloted in the steel sector with successful results, the scheme is now slated for expansion to encompass other key manufacturing sectors such as electronics, pharmaceuticals, and telecom and networking products. These sectors will embrace the ‘Made in India’ branding for products substantially manufactured within the country.
The pilot rollout in the steel sector, initiated in November, saw Jindal Stainless Steel and the state-run Steel Authority of India (SAIL) as the pioneering companies. Encouraged by its success, the government plans to replicate similar initiatives across various industries to promote indigenous manufacturing and reduce dependence on imports. The launch of the ‘Made in India’ scheme represents a strategic progression of the government’s flagship ‘Make in India’ initiative, introduced in 2014. In response to global supply chain disruptions exacerbated by the pandemic, India has introduced several incentive schemes to attract investments and promote domestic manufacturing.
These initiatives include the Atmanirbhar Bharat packages, Production Linked Incentive (PLI) schemes, investment opportunities under the National Infrastructure Pipeline, and the National Monetization Pipeline, along with the National Single Window System. The proactive measures have yielded tangible results, with significant investments pouring into the country. Companies like Wipro GE Healthcare have committed substantial funds to ramp up manufacturing operations in India, bolstering the nation’s manufacturing ecosystem and creating employment opportunities. Government data on PLI schemes underscores the positive impact, with over ₹1.03 trillion invested by November 2023, resulting in substantial production output and job creation. Notably, sectors such as electronics manufacturing, pharmaceuticals, food processing, and telecom & networking products have witnessed remarkable growth in exports under the PLI schemes. With the impending launch of the ‘Made in India’ label scheme, India is poised to reinforce its position as a global manufacturing hub, driving economic growth and fostering self-reliance in key industries.
