Make in India goes extra mile for ind ecosystem
Flagship scheme of Modi sarkar completes 8 yrs; Annual FDI doubles to $83 bn as Make in India facilitates investment and foster innovation
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New Delhi: Annual Foreign Direct Investment (FDI) nearly doubled to $83 billion as 'Make in India', the flagship scheme of the government to facilitate investment and foster innovation, completed eight years.
As per the Ministry of Commerce and Industry, FDI inflows stood at $45.15 billion in 2014-2015. The year 2021-22 recorded the highest ever FDI at $83.6 billion.
According to the ministry, to attract foreign investments, the government has put in place a liberal and transparent policy wherein most sectors are open to FDI under the automatic route.
"The year 2021-22 recorded the highest ever FDI at $83.6 billion. This FDI has come from 101 countries, which has been invested across 31 states and UTs and 57 sectors in the country. On the back of economic reforms and 'Ease of Doing Business' (EoDB) in recent years, India is on track to attract $100 billion FDI in the current financial year," the ministry said.
It said the Production-Linked Incentive (PLI) scheme across 14 key manufacturing sectors was launched in 2020-21 as a big boost to the 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. The PLI scheme is expected to generate significant gains for production and employment, with benefits extending to the MSME eco-system.
