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‘Make in India’ sees 48% increase in FDI equity inflows

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nirmala-sitharamanThe launch of ‘Make in India’ initiative has seen an increase in FDI equity inflows by 48 percent, Commerce and Industry Minister Nirmala Sitharaman told the Lok Sabha in a written reply.

“After the launch of ‘Make in India’ initiative in September 2014 there is 48 percent increase in FDI equity inflows during October 2014 to April 2015 over the corresponding period last year. A positive response has been received from within the country and globally for the ‘Make in India’ initiative,” Sitharaman said.

The Investor Facilitation cell in Invest India has received more than 12000 queries on its portal since the campaign began. “Several countries such as Japan, China, France and South Korea have announced their intention to make huge investments in India in various industrial and infrastructure projects,” the minister said.

An Expert Committee has been constituted to examine the possibility of replacing multiple prior permissions and pre-existing regulatory mechanism and to prepare a draft legislation.

The ‘Make in India’ programme aims at promoting India as an important investment destination and a global hub for manufacturing, design and innovation. The initiative does not target manufacturing sector alone, but also aims at promoting entrepreneurship in the country.

The initiative is further aimed at creating a conducive environment for investment, modern and efficient infrastructure, opening up new sectors for foreign investment and forging a partnership between government and industry through positive mindset.

The following 25 sectors have been identified under the ‘Make in India’ initiative :

*Auto Components
* Biotechnology
*Defence Manufacturing
*Electrical Machinery
* Electronic System Design and Manufacturing
*Food Processing
*IT and BPM
* Media and Entertainment
*Oil and Gas
*Roads and Highways
*Renewable Energy
*Thermal Power
*Tourism and Hospitality

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