FDI equity inflow into India spiralled 57% due to Make in India mission. Various global companies have either started some sort of manufacturing in India or have shown interest in India’s manufacturing sector. Earlier in July, the US chipmaker Advanced Micro Devices (AMD) announced that it would invest $400 million in India over the next five years. Amazon, the world’s largest e-commerce marketplace, has announced its plan to invest USD 1 billion to digitally enable MSMEs and traders across India
Foreign Direct Investment (FDI) equity inflow in the manufacturing sector between 2014-2022 increased by 57 per cent over the previous eight years, 2006-2014, due to Make in India mission. This information has been provided by India’s Junior Minister for Commerce and Industry Som Parkash in the Parliament.
The Make in India initiative was launched on September 25, 2014, to facilitate investment, foster innovation, building best in class infrastructure, and Make in India a hub for manufacturing, design and innovation. The development of a robust manufacturing sector continues to be a key priority of the Indian Government. Since its launch, the Make in India initiative has made significant achievements and presently focuses on 27 sectors under Make in India 2.0. which is implemented across various ministries/departments, central government, and state governments, including Tamil Nadu.
The government has taken a series of policy initiatives to improve the economic situation and convert the disruption caused by COVID-19 into an opportunity for growth. These include the Atmanirbhar Bharat packages, the introduction of the Production Linked Incentive (PLI) Scheme in 14 sectors, investment opportunities under the National Infrastructure Pipeline (NIP) and National Monetisation Pipeline (NMP), India Industrial Land Bank (IILB), Industrial Park Rating System (IPRS), the soft launch of the National Single Window System (NSWS) among others. An institutional mechanism to fast-track investments has been put in place, in the form of Project Development Cells (PDCs) in all concerned Ministries/ Departments of the Government of India. (Milap News Network)
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