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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.