Modi launches 'Make in India' campaign, says FDI is 'First Develop India' for him

New Delhi: Prime Minister Narendra Modi today launched his pet "Make in India" campaign to put India prominently on the global manufacturing map and, in turn, facilitate the inflow of new technology and capital, while creating millions of jobs.

The ambitious scheme, that also puts in place the logistics and systems to address in a timely manner queries of potential investors, was unveiled along with a logo, a portal and brochures on 25 identified growth sectors before Who's Who of the corporate world from India and abroad at the Vigyan Bhavan conference complex here.

The event was watched live in several cities in India and abroad via video conferencing.

Laying out the red carpet before investors, the prime minister said: "After what we have done and what I hear from you, I don't think I need to assure you any further on 'Make in India'." He hoped industry across the globe will take his invite seriously.

He said he was saddened in the past to see scores of Indians leaving the country to seek opportunities elsewhere. People have lost faith in Indian manufacturing and themselves. "We do not want any industrialist being forced to leave India," he said.

"A trust was broken -- that when a policy will be changed, when will the CBI (Central Bureau of Investigation) come. This is what I heard from all you. The biggest issue is trust. Why don't we trust each other? I want to change that."

The prime minister said for him the term FDI for the domestic industry did not expand to "foreign direct investment" but "first develop India". "We have to create opportunities of employment. If the poor get jobs the purchasing power of families will increase."

Pointing to campaign logo, he said: "This is the step of a Lion... Make in India."

Ahead of the launch of the campaign, Commerce Minister Nirmala Sitharaman said a number of steps had already been taken by the Modi government to make it easier to do business in India along with the removal or relaxation of foreign equity caps in several areas.

"The processes of applying for licences has been made online, it is 24/7. The validity of such licences has also been extended to three years," Sitharaman said, adding several norms and procedures have also being changed to make it easier to do business in India.

"Make in India is not a slogan but a mission to be accomplished with a single-minded commitment."

At the event some top industrialists and executives, among the 500 who had gathered here, were also invited to make short speeches.

"This programme offers a unique and timely opportunity to make India truly global," Tata Sons chairman Cyrus Mistry said, adding, countries attain high standards with a vibrant industrial economy and the biggest challenge is to create jobs for millions of youth.

Kenichi Ayukawa, managing director of Maruti Suzuki India, said his Japanese group was among the first to invest in India and remains committed to the country. He said he was sure India will eventually become one of the most competitive economies.

"Today we commit ourselves to the 'Make in India' movement that was given to us by our beloved prime minister," Reliance Industries chairman Mukesh Ambani said. He said the main task before the industry in India was to achieve global competitiveness.

The other speakers included Wipro's Azim Premji, Aditya Birla Group's Kumar Mangalam Birla, ICICI Bank's Chanda Kochhar, Lockheed Martin's Phil Shaw, and ITC's Y.C. Deveshwar.

Here we giving you live updates of the function being held at ‘Vigyan Bhawan':

12:36 pm: Modi concludes his speech.

12:35 pm: Modi- Today is Deendayal Upadhyay's birth anniversary. I feel privileged that I am inaugurating 'Make in India' campaign one this auspicious day. I greet you on the occasion of Navratri too.

12:33 pm: Modi- Earlier some people use to say that all the work happened in their time, now they don't. Banking sectors will move ahead with speed. 'Make in India' is not just a slogan. It's a responsibility for every citizen of India. We have to take both missions forward – First 'Make in India' and second FDI. I want ot give the assurance that you have the government's support.

12:31 pm: Modi: If States and centre work together then we can achieve greater goals. If you ask any state about export activity, they will have no record. They feel it's the centre's job to look into export and import. But what if the states also take initiative India would be capturing global market that everyone needs to participate. Its my view that investments in states lead to nation's development

12:27pm:  Modi-We have Look East and at the same time we have Link West. We want our companies to shine as MNCs

12:25 pm:  Modi- It's the need of the hour. we need to improve cold storage route, port route, etc. Infrastructure is not all about peace and comfort. Tourism is the most lucrative industry. This too requires good infrastructure. People say, now its time to go. I say, this is your government you don't have to go anywhere. Stay in your motherland. We will take steps to provide employment. This government is pro-development. Its not political agenda, but an article of faith. 

12:24 pm: Modi-  We want to increase effort for waste management in 500 cities. Along with increasing trade we can generate power through waste management. We now want highways we also want Iway – Information ways. We need water grid, optical fibre grid too.

12:22 pm: Modi: Our next mission is digitalization. Through digital India we can work towards – Easy government with effective governance

12:21 pm: Modi-We were once the golden bird. When the world was climbing the ladder of development, we were lagging behind. Why? Because we were slaves then. But now we have the opportunity. After yesterday's event the world cannot question India's capability. No one can doubt our talent. We have a talented man power. We need to take that with us.

12:19 pm:  Modi-I do not only talk about good governance. I talk about effective governance.Nobody can question the talent of our people...especially after yesterday's success of Mars mission. Everything was indigineous.

12:18 pm:  Modi- My 3 month experience tells me that the entire team has a very positive outlook and thinking. They are 2 steps ahead of me too.The world is looking at Asia. I do not have to waste time to invite...I need to give the address  

12:17 pm: Modi- The government has to lay foundation on sustainable development too. Today our government's thought, academics and traders thought are the same…I'm sorry to say no! We don't think alike. We can change if our focus changes. If the whole world goes for eco-friendly development, it will give rise to solar equipments. Then engineering students too will be diverted to achieve that end.

12:14 pm: Modi- They also need a supportive government. A government's existence is not enough nor is good governance – It's effective governance that matter. We need skilled man power. That too should be as per requirement.

12:13pm: Modi- The whole world wants to come to Asia. But they don't know where to go. Only India is the country that can suit their requirement. Demographic division, democracy and demand – India provides all the elements.

12:11 pm:Modi- Industry does not come when there are too many incentive schemes. We have to create a development & growth oriented environment.If government can simply its procedures then we can handle a lot of work. Through my three months experience I can say that my government in Delhi is working 3 times my speed.

12:10 pm:Modi- This is the step of a Lion...Make in India. Investors do reap merely through incentives. The government has to see to overall growth. It is then that investors feel a sense of security.

12:09 pm: Modi- We have to increase manufacturing and at the same time ensure that the benefits reach the youth of our nation

12:09 pm: Modi- Manufacturers need buyers. To bring change in the Indian market, we need to boost the manufacturing sector that will  generate employment and in return, increase purchasing power

12:07 pm: Modi- FDI is most talked about subject these days. But I look at it from a different perspective. It is a responsibility of the people. It is an opportunity to enhance trade. To me, FDI is 'First Develop India'

12: 06: pm: Modi- FDI is most talked about these days. But I look at it from a different perspective. I is a responsibility of the people. I is an opportunity to enhance trade. For me FDI is First Develop India

12:04 pm: My government's one mantra is that we want to trust the people of the country. We want to create an atmosphere of trust.

12:01 pm: Modi- can we not trust our own people. What is the role of the government? It is for the common people.

11:56 am: Modi- I have no political intention

11:55 am: Modi- Seeing your enthusiasm here I don't think I need to reassure any of you to invest in India

11:54 am: Modi: My apologies to some of our senior businessmen who didn't get a seat  at Vigyan Bhavan because of shortage of space.

11:53 am: Modi welcomes the gathering

11:53 am: Narendra Modi begins speaking

11:52 am: Modi has released the first brochures and logo of #MakeinIndia

11:52 am: Modi launches "makeinindia.com" - Official website

11: 50 am: Narendra Modi launches #MakeinIndia Campaign and logo

11:38 am: Phil Shaw (Chief Executive Lockheed Martin India Pvt Ltd): "We believe India is the epicentre of innovation."

11: 24 am: #MakeinIndia can add 90 million jobs in the next decade: ICICI Bank's Chanda Kochhar.

11:17 am: Ambani: RIL to create 125,000 jobs in 12-15 months

11:12 am: Ambani: Today we commit ourselves to ‘Make In India', a call that was given by our beloved Prime Minister

11: 07 am: Ambani: Your interaction in Japan and China, and US visit will change perception. Your speech from the Red Fort inspired youth for contribution. I commit myself for ‘make in India program'. With your leadership India can make a comeback in fast track growth and 8 to 10 % growth can be achieved

11:05 am: Ambani: Modi works and motivates others to work

11:05 am: Ambani: India is blessed to have a leader like Narendra Modi

11:04 am: Mukesh Ambani speaking

10:46 am: Modi to begin his speech shortly. His speech will be translated to Chinese, Japanese, Arabic, among other languages

10:42 am: Commerce and Industry Minister Nirmala Sitharaman begins speaking

10:40 am: PM Narendra Modi is now at Vigyan Bhawan for Make in India launch event

10:33 am: The hall at Vigyan Bhawan is packed for Make in India launch event. 4 more halls opened to accommodate more invitees

10:22 am: Mukesh Ambani, Cyrus Mistry, Osamu Suzuki, KM Birla, Azim Premji expected to speak at ‘Make in India' launch

10:20 am: 500 global CEO's attending Narendra Modi's ambitious investment campaign.