The Lion turns two: Two years of Make in India initiative
- Make in India handle marked the completion of two years of the initiative on 25th September, launched by Prime Minister Narendra Modi in 2014. Expressing credence over the initiative, Modi said that Make in India is the step of a lion.
- Post the launch of the Make in India initiative, India became the front runner in 2015 in terms of attracting foreign investment, having seen an inflow worth $63 billion, leaving behind the US and the People’s Republic of China. India’s top five FDI-friendly sectors comprise services, construction, computer software, hardware and automobiles.
- The Make in India initiative has showcased India as a potential manufacturing hub in the eyes of the world. Make in India so far has had over 170 global and Indian manufacturers committing investments worth a total of $90 billion.
- India’s rank in the World Bank’s Ease of Doing Business rankings has gone up from 134 in 2015 to 130 in 2016.
- The investor facilitation cell of Make in India under the program, Invest India is rated as one of the world’s most effective investment promotion agencies by UNCTAD. The platform handholds investors with sector-specific inputs, location identification, expediting regulatory approvals, facilitating meetings with relevant government and corporate officials and more.
The investment in India’s clean energy sector in 2015 witnessed a 22 percent increase.