The new government under the aegis of Narendra Modi is planning to work on a fresh strategy to boost the Make in India programme. In the last five years, it has drastically improved the business climate of the country, pushing it towards the trajectory for high and sustainable growth. From a call-to-action to becoming a platform for national development, the campaign has made its presence felt across the globe.
The Make in India initiative has made a tremendous impact on the investment climate of our country as shown by significant growth of 46% in Foreign Direct Investment (FDI) equity inflows and highest ever FDI inflows at US$ 55.5 billion in 2015-16. With more companies actively participating in this, India has emerged as the fastest growing major economy with GDP growth rate above 7.6% in and projected to grow above 7% till 2020 as per International Monitory Fund (IMF).
Here is a list of five such brands who are the leading examples thriving on Modi’s Make in India Initiative:
1. Amazon India:
With their global selling program for businesses in India, Amazon enables Indian manufacturers to access to hundreds of millions of buyers across the world with ease. Amazon is extending two of its pioneering products - Selling on Amazon (SOA) and Fulfilment by Amazon (FBA) to businesses of all sizes and scale from across the country to go Global and showcase their “Made in India” creations and products, to hundreds of millions of customers globally.
FLOH, a revolutionary feminine hygiene brand by Visionaari has recently launched Crampfree- a 100% herbal period pain relief patch. Inlinewith the government’s Make in India initiative, the FLOH’s latest product, Crampfree has its manufacturing base in India and is giving way to work opportunities across the region. The product is ultra-thin, waterproof and is infused with Menthol and Eucalyptus oil, along with camphor which provide instant and long-lasting relief from period cramp pain
Yoga Guru Baba Ramdev is contributing to make India an economic super power on multiple levels besides yoga. His Patanjali Ayurved has already sold consumer brands from shampoos to noodles overtaking multinational ones. Ramdev’s home-grown Patanjali consumer products have recently created ripples in the market as its Ayurveda products have gained momentum over other established brands that sell shampoo, soaps and beauty products besides noodles.
Nyssa owned value retail chain, 1-IndiaFamilyMart present in the market since 2013 thrive at-least 90% of their products from local suppliers and designersadhering to the Make in India initiative and empowering the local manufacturers and producers, particularly MSMEs (micro, small and medium enterprises) with new opportunities for growth and innovation. 1-IndiaFamilyMart is rapidly expanding in Tier-3 and 4 cities and is evangelizing customers with choices of fashion wear, lifestyle and home furnishing accessories. Owing to its successful business model, the brand today has reached a revenue of 420 crores across its 90 stores.It plans to further invest INR 200 crore and open around 100 stores in the next two fiscals.
5. InnAccel Technologies:
InnAccel Technologies, a Bangalore based company, is an indigenous MedTech innovator that identifies unmet needs and develops novel, globally-certified medical technologies addressing these needs. Most companies were in the space of incremental innovation- i.e. innovating on existing technologies to enhance features or reduce cost. We saw this gap as a once-in-a-lifetime opportunity, and from 2014, we started creating our own teams to innovate for India. Today, InnAccel has a portfolio of five products under 3 verticals.
Saans and VapCare are shining examples for Make in India initiatives- both first in the world products and global innovation that addresses a specifically Indian challenge.
Fabindia (or Fabindia Overseas Pvt. Ltd.) is an Indian chain store retailing garments, furnishings, fabrics and ethnic products handmade by craftspeople across rural India. The products of Fabindia are mainly sourced from villages helping to provide and sustain rural employment in India. They are currently produced by over 40,000 artisans and craftspeople across India. The hand-crafted products also encourage good craftsmanship. Today it has over 250 stores across India and abroad thriving with the Make in India initiative.