On track to attract $100 bn in current year
BBN Bureau
NEW DELHI/September 24-2022: The year 2021-22 (FY22) recorded the highest-ever foreign direct investment (FDI) in the country at $83.6 billion.
An official government statement said India is on track to attract $100 billion in the current financial year – FY23.
During FY22, the FDI has come from 101 countries, and invested across 31 union territories (UTs) and states and 57 sectors in the country.
On the back of economic reforms and Ease of Doing Business in recent years, India hopes to achieve a steady growth in FDIs into the country in the coming years.
To attract foreign investments, Government of India has put in place a liberal and transparent policy wherein most sectors are open to FDI under the automatic route.
FDI inflows in India stood at $45.15 billion in 2014-2015 and have since consecutively reached record FDI inflows for eight years.
Make-in-India completes 8 yrs
Make-in-India, the flagship program of the Government of India that aspires to facilitate investment, foster innovation, enhance skill development, and build best-in-class manufacturing infrastructure, will complete 8 years of path-breaking reforms on September 25, 2022.
Launched in 2014 ‘Make-in-India’ is transforming the country into a leading global manufacturing and investment destination.
The Prime Minister Narendra Modi said the initiative is an open invitation to potential investors and partners across the globe to participate in the growth story of ‘New India’.
Make In India has substantial accomplishments across 27 sectors. These include strategic sectors of manufacturing and services as well.
PLI scheme
Production Linked Incentive (PLI) scheme across 14 key manufacturing sectors, was launched in 2020-21 as a big boost to Make-in-India initiative. The PLI Scheme incentivises domestic production in strategic growth sectors where India has comparative advantage.
This includes strengthening domestic manufacturing, forming resilient supply chains, making Indian industries more competitive and boosting the export potential.
PLI Scheme is expected to generate significant gains for production and employment, with benefits extending to the MSME eco-system.
Recognising the importance of semiconductors in the world economy, the Government of India has launched a $10 billion incentive scheme to build a semiconductor, display, design ecosystem in India.
