Renewable energy Gems and Jewelry, Construction, Railways, Aerospace and Defense, Textiles and Apparels,
Automotive and Auto Component .
Service Sectors (By Department of Commerce)
Communication Services, Transport and logistic Services, Construction and engineering services, Legal
Services, Audio visual Services, tourism and hospitality Services, Environmental services, Education Services,
Information Technology and Information Technology enabled Services, Medical value Travel, Accounting and
Finance services .
Institutional Support and Major Announcements
In 2015, the Government of India established NITI Aayog to promote cooperative federalism, replacing the
Planning Commission, which had focused on central planning since 1950. NITI Aayog was created with the
objectives of designing strategic policies, providing innovation and knowledge support, fostering cooperative
federalism, and evaluating and monitoring major investments. It aimed to serve as a platform for resolving
interdepartmental and inter sectoral issues. The focus was on capacity building and technology upgradation to
effectively implement various programs. This institution plays a crucial role in supporting the economy by
fostering public-private partnerships and granting NITI Aayog an independent status to perform and achieve the
goals of economic growth.
Aatmanirbhar Bharat Abhiyan
The COVID-19 pandemic severely affected many economies worldwide, including India, through both demand
and supply shocks. Demand shocks arose from uncertainty and lowered confidence levels, leading to reduced
spending and consumption. The lockdown caused many businesses to either close or operate at minimal levels.
This reduction in economic activity also created supply shocks, resulting in shortages of raw materials. Industries
initially experienced slow growth, followed by further challenges due to supply disruptions.
In response, the Government of India launched the self-reliant India mission, and it was proudly announced and
was known as Aatmanirbhar Bharat Abhiyan, in May 2020. The mission aimed to address the slow growth of
the Indian economy caused by these supply and demand shocks. It was built on five pillars that focused on the
economy, infrastructure, system, demography, and demand.
Due to economic disruption caused by COVID-19, Atmanirbhar Bharat Abhiyan created new MSME (Micro,
Small and Medium Enterprises) definition, reforms in private sector, privatization of public sector undertakings
in non-strategic sectors, transparent auction in mining, production linked incentives, increase of FDI limit in
defense manufacturing .
Udyam registration portal was opened on 1st July, 2020 .This portal incorporated new definition of MSME as it
can contribute to bring in regional development, improve domestic capabilities, and create and generate
employment opportunities. New definition of enterprises under micro, small and medium categories was
changed and turnover limits were increased to5, 50, 250 crores respectively. Various reforms were introduced to
create credit guarantees schemes, Prime Minister employment generation schemes, zero defect and zero effect
practices. Innovations were promoted and entrepreneurship was supported to create jobs and facilitate
innovations.
Revision of GFR 2017, and Public Procurement order
On June 15, 2017, Government revised General Financial Rules to incorporate the preferences for Make in India.
The nodal agencies published their orders aligned with ministries directions to extend the scope of products
made in India in the procurement process and include them in their line of products. This public procurement
order has been designed to strengthen the procurement system with transparency and objectivity.