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 ”.
“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.