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Make in India vs Startup India

Make in India is an initiative launched by Narendra Modi’s NDA government that is aimed at encouraging the national as well as multi-national companies to manufacture their products in India and the efforts that the leaders have done have borne fruit as India received the most foreign direct investment (FDI) for the calendar year 2016 making it the most favorable destination in the world surpassing USA and China. With a promise of a high consuming population and a higher consumption market in the future as well as the relaxation policies in order to foster the make in India brand have certainly been of much benefit and the country has moved up the ranks on the investment friendly nation list. The program will help in creating jobs for the millions of skilled and unskilled workers in the country and need low imports that will drive down the prices of the several commodities and bring prosperousness in the nation.
Startup India on one hand seeks to promote bank financing for our homegrown venture and boost the spirit of entrepreneurship in the country It is focused to get rid of several hindrances that come in the way of establishing a startup from its roots. The problems of licence raj, foreign investments, land permissions and other such problems that restrict the development of a startup are relaxed and government has taken steps that would foster the development of new age entrepreneurs and the progress can already be seen in the market with our own ventures getting millions in FDI from foreign angel investors. The government has also set up some fund based scheme that would provide incentive to some ventures that seem to have some capability to make it big. According to the office,” A startup is an entity that has its headquarters in India, which was opened less than seven years ago and has a turnover of less than 25 crores.
The make in India initiative is run by the ministry of finance whereas startup India scheme is in the hands of commerce ministry of India. Still, make in India and startup India both are the flagship initiatives of the government of India and it will be of a very strict opinion to pit them against each other. There is no such acceptable difference between the two. With the name of startup India, it is wished that the program leads to the creation of more jobs which matches with the aim of the former. Some people are of the opinion that startup India is majorly and online setup whereas make in India captures the attention of the industrial community which might be true to some extent however if angel investors are to be believed, they have a portfolio which seeks to invest in offline businesses as well. Startups are the businesses that rule are lives and have made things much easier and besides they have provided jobs for millions and with Make in India the government seeks to do just that. We need to develop our homegrown brands but we must also take the advantage of already built ones and bring the world to India and take India to the globe.
This article has been contributed by Simmi Setia, Content Writer at LegalRaasta, an online portal for Section 8 Company Registration, Nidhi Company Registration, IEC Registration, Fssai License, File ITR Online, Copyright Registration, Patent Registration, Trademark Registration.

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