India to Launch 'Made in India' Branding Scheme to Boost Local Manufacturing
Govt to soon launch 'Made in India' branding scheme: DPIIT secretary
Business Standard
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The Indian government is set to launch the 'Made in India' branding scheme to enhance the global identity of Indian products, following a successful pilot in the steel sector. DPIIT Secretary Amardeep Singh Bhatia emphasized the need for a cohesive industrial policy to support trade and reduce import dependence.
- 01The 'Made in India' branding scheme aims to strengthen the identity of Indian products in global markets.
- 02A successful pilot in the steel sector has paved the way for broader implementation across various industries.
- 03Government officials stress the importance of aligning industrial and trade policies to stimulate economic growth.
- 04The initiative targets the production of intermediate goods and aims to support micro, small, and medium enterprises (MSMEs).
- 05Challenges such as tariff predictability and regulatory harmonization are identified as barriers to industrial growth.
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The Indian government is preparing to launch the 'Made in India' branding scheme, which aims to promote Indian products in global markets. DPIIT Secretary Amardeep Singh Bhatia announced that the scheme follows a positive pilot run in the steel sector. He highlighted the need for discussions with industries to determine the sectors for rollout, indicating that the framework is ready. Commerce Secretary Rajesh Agrawal emphasized that India's industrial policy must align with its trade policy to foster economic growth and reduce import dependence. The government is focusing on manufacturing products that are either inadequately produced in India or not produced at all, particularly in the automobile sector. Challenges such as tariff unpredictability and regulatory harmonization were noted as impediments to industrial growth, with Agrawal stating that the recent free trade agreements (FTAs) aim to create a predictable environment for investors. Overall, the initiative seeks to enhance India's manufacturing capabilities and support MSMEs.
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The 'Made in India' branding scheme is expected to boost local manufacturing, potentially reducing reliance on imports and creating job opportunities in various sectors.
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