Economy

FDI inflow doubled in 8 years since ‘Make in India’ scheme launched

Since its launch in 2014, the flagship Make in India programme of the Narendra Modi government, has drawn foreign direct investments (FDI) from as many as 101 countries. FDI inflows in India, which was $ 45.15 billion in 2014-2015 has doubled in the last eight years. In 2021-22, FDI in India stood at $83.57 billion.

An official statement said that on the back of economic reforms and Ease of Doing Business, India is set to attract FDI worth $100 billion FDI in the current financial year.

India, with an eye on the $5 trillion economy, is aggressively wooing foreign investors amid the geopolitical shifts and supply chain disruptions. Sources said that nodal ministries, state governments and authorities dealing with investments have been advised to take all necessary measures to “handhold” foreign investors.

The Aatmanirbhar Bharat plank announced by Prime Minister Narendra Modi in 2020 is now being pitched as “Make in India for the World ”.

Also read: India would be a $30 trillion economy by 2047—Piyush Goyal

“In the new emerging geopolitical order, India has positioned itself as a credible, dependable voice. Now the thrust is on the economy. The government is doing all that it can to facilitate and expedite investments,” a government source told earlier India Narrative. He also said that India will continue to be guided by its strategic autonomy “with a firm focus on growth” amid the global turmoil and disruption of the supply chain network.

In 2020-21, the government launched the Production Linked Incentive (PLI) scheme across 14 key manufacturing sectors to support the Make in India programme. The PLI scheme incentivises domestic production in strategic growth sectors where India has comparative advantage, the statement said, adding that the scheme is expected to generate significant gains for production and employment, with benefits extending to the MSME eco-system.

IN Bureau

Recent Posts

VINBAX 2024: Vietnam-India bilateral army exercise concludes at Kaushalya Dam

The fifth edition of the historic Indo-Vietnam Joint Field Training Exercise, VINBAX-2024, successfully concluded its…

15 hours ago

India-Russia strengthen defence ties at 22nd Working Group meeting on military technical cooperation

The 22nd meeting of the India-Russia Working Group on Military technical cooperation and defence industry…

15 hours ago

“I want to have strong representation of India at World Nuclear Exhibition 2025”: Sylvie Bermann

Sylvie Bermann, President of the World Nuclear Exhibition expressed confidence in India's nuclear supply chain…

17 hours ago

PoJK: Joint Awami Action Committee protests against government following new ordinance, many injured

Joint Awami Action Committee core member Shaukat Nawaz Mir has condemned the attack of police…

17 hours ago

PM Modi meets 31 world leaders, heads of organisations during his 3-nation foreign visit

Prime Minister Narendra Modi participated in 31 Bilateral Meetings and informal interactions with global leaders…

19 hours ago

India- Australia conduct 11th Indian Air Force-Royal Australian Air Force Air Staff Talks

India and Australia conducted the 11th edition of the Indian Air Force and Royal Australian…

19 hours ago