Make in India

by Sunil Kumar Gupta

Foreword Baroness Verma	iii
Foreword Kalraj Mishra	iv
Foreword Anandiben Patel	v
Foreword Vijay Goel	vi
Messages	vii
Acknowledgment	ix
Preface	xi

Chapter 1 ABOUT BHARAT

Constitution of India	2
Fundamental Rights	2
General Profile	4
Political Profile	6
Economic Profile	6
Socio-Economic Structure	9
India’s Ranking (2022-23)	10
Unraveling GDP Growth and Easing Business Dynamics in India and the Global Economy	11
Summary	20

Chapter 2 INCLUSIVE ECONOMIC GROWTH OF WORLD: ONE FAMILY, ONE EARTH, ONE FUTURE

Highlights of Hon’ble Prime Minister’s Speech at G20 Summit	22
a. Prime Minister’s opening remarks at the G20 Summit	22
b. Prime Minister’s remarks at the G20 Summit Session 1	22
c. Prime Minister’s remarks at the G20 Summit Session 2	23
d. Prime Minister’s remarks at the G20 Summit Session 3	23
Critical Issues as Focus Areas of G20 Summit	24
India’s G20 Commitments	24
Key Agenda’s of G20 Summits	26
Suggestions for Achieving the Key Agendas of the G20 Summits	27
1. Strong, Sustainable, Balanced, and Inclusive Growth	27
2. Accelerating Progress on Sustainable Development Goals (SDGs)	38
3. Green Development Pact for a Sustainable Future	53
4. Multilateral Institutions for the 21st Century	74
5. Technological Transformation and Digital Public Infrastructure	79
6. International Taxation	93
7. Gender Equality and Empowering All Women and Girls	96
8. Financial Sector Issues	106
9. Countering Terrorism and Money-laundering	108
10. Creating a More Inclusive Worl	111

Chapter 3 BUSINESS OPPORTUNITIES IN INDIA

Detailed Overview of potential Sectors	115
Electronic System Design and Manufacturing (ESDM)	142
Engineering Sector	146
FMCG Industry	149
Healthcare Industry	153
Infrastructure Sector	157
IT and BPM Industry	164
Manufacturing Sector	167
Medical Devices Industry	175
Metals and Mining Industry Sector	180
Oil and Gas Industry	186
Pharmaceuticals Sector	189
Shipping Industry and Ports in India	193
Railways Sector	205
Renewable Energy Industry	211
Science and Technology Industry	216
Telecommunications Industry	221
Tourism and Hospitality Industry	224
Summary	230

Chapter 4 EASE OF DOING BUSINESS AND STARTUP ECOSYSTEM IN INDIA

What is Ease of Doing Business & How it is Measured?	241
Parameters of Ease of Doing Business (EoDB)	242
Starting a Business	243
Registering Property	243
Dealing in Construction Permits	244
Obtaining Electricity	244
Resolving Insolvency	244
Paying Taxes	245
Trading Across Borders	245
Protecting Minority Investors	246
Enforcing Contracts	246
Business Reform Action Plan 2022	247
Startup Ecosystem in India	248
Unicorns in India	251
Programs Implemented under Startup India initiative	252
List of initiatives undertaken by the Government specifically for promotion of entrepreneurship in North-Eastern States is as under:	253
Summary	255

Chapter 5 FOREIGN INVESTMENT POLICIES

Foreign Direct Investment in India	259
Share of Highest FDI Equity Inflow in FY 2023-24 Top 10 Countries	261
State wise inflow of FDI	261
Sector Wise Inflow of FDI in India	261
Trading Portal: Foreign Investment Facilitation Portal (FIFP)	263
List of Documents	267
Census on Foreign Liabilities and Assets of Indian Direct Investment Entities for 2022-23	270
Procedure for Receiving Foreign Direct Investment 271
I. Procedure for Processing of Applications Seeking Approval for Foreign Investment	272
II. Time Limits for processing FDI Proposals are prescribed as per Annexure-V	275
III. Monitoring & Review	275
Sectors under which Prior Approval of Government is Required	280
Eligible investors for FDI investment in India as per the Consolidated FDI Policy (Effective from October 15, 2020)	281
Entities Eligible for FDI Investment in India	282
Sectors Prohibited From FDI	285
Permitted Sectors to receive FDI in India	286
Reporting Process	292
Overview: Foreign Exchange Management (Overseas Investment)Rules, 2022	294
1. Overseas Investments By Residents Individuals	294
2. Overseas Investment By an Indian Resident, Other Than an Indian Entity or an Indian Resident	295
3. Overseas Investment in an IFSC in India By an Indian Resident	296
Overseas Direct Investment and Indian Economy	298
Summary	299

Chapter 6 FOREIGN TRADE POLICY

Overview: Foreign Trade Policy (FTP) 2023	303
Importan Extracts of FTP 2023: Reproduced for Ready Reference	305
1. Legal Framework and Trade Facilitation	305
A. Legal Framework	305
B. Trade Facilitation and Ease of Doing Business	306
2. General Provisions Regarding Imports and Exports	312
Import Policy for Second Hand Goods	316
Import Policy for Metallic Waste and Scraps	317
Other Provisions Related to Imports	317
Exports	318
Exports of Specific Categories	318
Payments and Receipts on Imports/Exports	321
Export Promotion Councils	322
Self-Certification of Originating Goods	324
3. Developing Districts as Export Hubs	325
4. Duty Exemption/Remission Schemes	327
Duty Free Import Authorisation Scheme (DFIA)	337
Scheme for Remission of Duties and Taxes on Exported Products	339
5. Promoting Cross Border Trade in Digital Economy	342
A. Promotion of E-Commerce Exports	343
B. E-Commerce Export Hubs (ECEHs)	343
C. Promotion of E-Commerce Exports Through Postal Route	344
Summary	344

Chapter 7 MICRO, SMALL AND MEDIUM ENTERPRISES (MSME)

MSME New Registration Process	346
MSME Sector - Classification	348
Recent Amendments to Promote MSME Sector	352
Credit Guarantee to MSMEs	352
Vivad se Vishwas I – Relief for MSMEs	352
Vivad se Vishwas II – Settlement of Contractual Disputes	352
MSMEs and Professionals	352
Start-up	353
National Financial Information Registry	353
GIFT IFSC	353
Interlinking of Various Government Portal	353
Entity DigiLocker	353
Major Government Initiatives and Schemes to Promote MSME Sector	354
1. Micro, Small and Medium Enterprises Development(MSMED) Act, 2006	354
2. Schemes	354
How has Make in India proven to be a Game Changer for MSME Sector in India?	370
Fundamental Announcements & Achievements	370
Recent Achievements & Development in MSME Sector in FY 2022-23	376
1. Udyami Bharat	376
2. Public Procurement Policy for Micro and Small Enterprises	376
3. Procurement and Marketing Support (PMS) Scheme	377
4. India International Trade Fair (IITF), 2022	377
5. International Cooperation Scheme	377
6. Technology Centres	378
7. Skilling	379
8. Promotion of MSMEs among SC/STs & in NER	379
9. MSME SAMADHAAN: To Address Delayed Payment to MSEs	381
10. MSME Sampark	381
11. Digital Payments	381
12. Special Measures under Aatmanirbhar Bharat Abhiyaan	382
13. `50,000 crores Equity Infusion for MSMEs through Self Reliant India Fund (Fund of Funds)	382
14. Emergency Credit Line Guaranteed Scheme(ECLGS)/Guaranteed Emergency Credit Line (GECL):	382
15. MSME Sambandh Portal	383
16. Guarantee Emergency Credit Line (GECL)	383
17. PM Vishwakarma Scheme	384
Activities Conducted For North-Eastern Region, Women,Person with Disability, and International Cooperation	385
A. Promotion of MSMEs in North Eastern Region and Sikkim –Central Government Scheme	385
B. Development of New and Existing Industrial Estates	386
C. Activities for Women-led MSMEs	386
D. Activities for Persons with Disabilities (PwD)	386
International Cooperation	386
GeM (Government e-Marketplace) Portal	387
Summary	389

Chapter 8 ENTRY OPTIONS IN INDIA

Types of Business Entities in India	399
Sole Proprietorship	399
One Person Company (OPC)	401
Partnership	402
Limited Liability Partnership (LLP)	404
Company	406
Joint Venture (JV)	409
Wholly Owned Subsidiary (WOS)	410
Branch or Liaison or Project Offices	412
Establishment of Branch Office (BO)/Liaison Office (LO)/Project	413
Office (PO) or any other place of business in India by foreign entities	413
Summary	423

Chapter 9 ENTRY OPTIONS IN INDIA

Ways Through which Capital Instruments are Permitted in India	428
1. Equity Shares	428
2. Preference Shares	429
3. Debentures	430
4. External Commercial Borrowings (ECBs)	434
5. Foreign Currency Convertible Bonds (FCCBs)	441
6. Foreign Currency Exchangeable Bonds (FCEB)	447
Foreign Funding Sources in India	450
Foreign Institutional Investments	450
Foreign Portfolio Investment (FPI)	451
Foreign Venture Capital Investor (FVCI)	452
Traditional Funding Sources in India	452
1. Bank Loans	452
2. Government Grants	454
3. Loans from Financial Institutions	455
Key Features of Traditional Funding Sources	456
Summary	456

Chapter 10 BUSINESS LAWS AND REGULATORS

Major Business Regulators in India	463
Reserve Bank of India (RBI)	463
The Securities and Exchange Board of India (SEBI)	463
Powers and Functions of the Board	464
Ministry of Corporate Affairs (MCA)	466
Ministry of Finance	466
Ministry of Electronics and Information Technology (MeitY)	467
Food Safety and Standards Authority of India (FSSAI)	468
Insurance Regulatory and Development Authority of India (IRDAI)	469
Telecom Regulatory Authority of India (TRAI)	470
Central Electricity Regulatory Commission (CERC)	470
Petroleum and Natural Gas Regulatory Board (PNGRB)	471
National Highways Authority of India (NHAI)	472
Khadi and Village Industries Commission (KVIC)	472
Directorate General of Civil Aviation (DGCA)	473
Directorate General of Foreign Trade (DGFT)	473
Directorate General of Hydrocarbons (DGH)	473
Competition Commission of India (CCI)	474
Central Drugs Standard Control Organization (CDSCO)	474
National Bank for Agriculture and Rural Development	475
Bureau of Indian Standards (BIS)	475
National Green Tribunal	475
Small Industries Development Bank of India (SIDBI)	476
Overview of the Corporate Law Regime in India and Proposed Legal Changes	476
Law and Adoption of Changing Circumstances	477
Growth of the Corporate Regulatory Framework	477
Corporate Laws	477
The Companies Act, 2013	477
The Indian Partnership Act, 1932	493
The Limited Liability Partnership Act, 2008	494
New Labour Code, 2020	505
The Prevention of Money Laundering Act, 2002	509
Special Economic Zones Act, 2005	511
The Competition Act and The Competition (Amendment) Act, 2023	513
The Insolvency and Bankruptcy Code	514
Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015[Last amended on August 18, 2023]	514
Cyber Laws in India	514
Intellectual Property Laws	516
The Patents Act, 1970	517
The Patents (Amendment) Rules, 2021	517
The Designs Act, 2000 and The Designs (Amendment) Rules, 2021	517
The Trade Marks Act, 1999	518
The Copyright Act, 1957	519
The Geographical Indications of Goods (Registration and Protection) Act, 1999	520
Other Important Acts	521
Taxation India	522
GST: Major Tax Reform in India	523
Income Tax in India	523
Summary	525

About the Author

Sunil Kumar Gupta

Publisher: Commercial Law Publishers

Pages: 530

Language: English

ISBN: 9789356038769

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Make in India

Make in India

Contents

Chapter 1

ABOUT BHARAT

Chapter 2

INCLUSIVE ECONOMIC GROWTH OF WORLD: ONE FAMILY, ONE EARTH, ONE FUTURE

Chapter 3

BUSINESS OPPORTUNITIES IN INDIA

Chapter 4

EASE OF DOING BUSINESS AND STARTUP ECOSYSTEM IN INDIA

Chapter 5

FOREIGN INVESTMENT POLICIES

Chapter 6

FOREIGN TRADE POLICY

Chapter 7

MICRO, SMALL AND MEDIUM ENTERPRISES (MSME)

Chapter 8

ENTRY OPTIONS IN INDIA

Chapter 9

ENTRY OPTIONS IN INDIA

Chapter 10

BUSINESS LAWS AND REGULATORS