Here are 10 things to know about the "Make in India" campaign:
Top CEOs from India Inc, international industry leaders, ambassadors, ministers and government officials are likely to attend the launch. The campaign will target top companies across sectors in identified countries. It will also identify select domestic companies having leadership in innovation and new technology for turning them into global champions.(Read: Mukesh Ambani, Shashi Ruia Among Participants in 'Make in India' Programme)
Special arrangements have been made to publicise the event globally in different world capitals. At the same time, programmes will be held in state capitals and also Indian missions abroad, where officials are expected to engage with investors and consultants just as PM Modi addresses CEOs back home. (Read: PM Modi's 'Make in India' Push to Drive Investments, Create Jobs)
Business entities will be extended a red carpet welcome. The "Invest India" unit in the Commerce Ministry will act as the first reference point for guiding foreign investors on all aspects of regulatory and policy issues and to assist them in obtaining regulatory clearances.
The government is also closely looking into all regulatory processes with a view to making them simple and reducing the burden of compliance on investors.
A dedicated cell has been created to answer queries from business entities through a newly created web portal (www.makeinindia.com). The back-end support team of the cell would be answering specific queries within 72 hours.
The government has identified 25 key sectors in which India has the potential of becoming a world leader. PM Modi will be releasing separate brochures for these sectors along with a general brochure.
The brochures covering sectors like automobiles, chemicals, IT, pharmaceuticals, textiles, ports, aviation, leather, tourism and hospitality, wellness, railways among others will provide details of growth drivers, investment opportunities, sector specific FDI and other policies and related agencies.
The campaign is aimed to transform the economy from the services-driven growth model to labour-intensive manufacturing-driven growth. This will help in creating jobs for over 10 million people, who join the workforce every year.
It aims to attract foreign companies to set up factories in India and invest in the country's infrastructure. The new government has liberalised defense manufacturing and insurance sectors to attract FDI, but analysts say the government needs to do much more to attract foreign capital.
The initiative has its origin in the PM Modi's Independence Day speech where he gave a clarion call to "Make in India" and "Zero Defect; Zero Effect" policy.
(With inputs from agencies)