nd str and n rastr        t re       9.25
         (ii) Invest India set up as the national                       short-term loans to Indian SMEs on
              investment promotion and facilitation                     liberal terms.
              agency.                                              (c) A Micro Units Development
        (iii) With the objective of promoting                           Refinance Agency (MUDRA) Bank
              investment in the country, a full-fledged                 set up to provide development and
              Investment Facilitation Cell has been set-                refinance to commercial banks/
              up under the Make in India initiative,                    NBFCs/cooperative banks for loans
              primarily to support all investment                       given to micro-units. MUDRA follow
              queries as well as to handhold and liaise                 a ‘credit-plus approach’ by also
              with various agencies on behalf of                        providing several other services such
              potential investors.                                      as – financial literacy and addressing
        (iv) As envisaged by the National                               skill gaps, information gaps, etc.
              Manufacturing Policy 2011, Make in India        As per the latest Economic Survey 2017-18,
              seeks to enable the sector to contribute   during the year ‘Champion Sectors’ have been
              25 per cent to the GDP and create 100      identified by the Government which have potential
              million additional jobs by 2022.           to emerge global champion—under Make in
         (v) A number of steps to enhance the skills     India Version 2.0. Major sectors identified are—
              of workers/the unemployed in India in      capital goods, automobile, defence and aerospace,
              order to improve their employability.      biotechnology, pharma, electronic design and
        (vi) In order to tap the creative potential      manufacturing (ESDM), leather and footwear,
              and boost entrepreneurship in India,       textiles and apparel, food processing, gems and
              the Start-up India and Stand-up India      jewellery, new renewable energy, construction,
              campaign has been announced.               shipping and railways.
       (vii) An innovation promotion platform
              called AIM (Atal Innovation Mission)          start-uP IndIa
              and a techno-financial, incubation and     The Start-up India scheme was launched by the
              facilitation programme called SETU (Self-  GoI in January 2016 with a slogan, Start-up India
              Employment and Talent Utilization)         and Stand-up India. The mission/scheme aims to
              are being implemented to encourage         build a strong ecosystem for nurturing innovation,
              innovation and start-ups in India.         driving sustainable economic growth and
      (viii) For supporting the financial needs of the   generating large-scale employment opportunities.
              small and medium enterprise sector and     Apart from the technology sector the start-up
              promote start-ups and entrepreneurship,    movement will extend to a wide array of other
              various steps taken through Make in        sectors including agriculture, manufacturing,
              India –                                    healthcare and education.; and from existing tier 1
              (a) The India Aspiration Fund has also     cities will extend to tier 2 and tier 3 cities including
                  been set up under the SIDBI for        semi-urban and rural areas. The proposed action
                  venture capital financing to the MSME  plan (Economic Survey 2015–16) for the firms is
                  sector.                                as given below:
              (b) SIDBI Make in India Loan for Small               Creating a compliance regime based on
                  Enterprises (SMILE) launched to                  self-certification to reduce the regulatory
                  offer quasi-equity and term-based                burden and keep compliance cost low.