India to Likely Decriminalise 300 Legal Provisions
FDI inflows have doubled to $667 billion over the past decade.
Piyush Goyal at luncheon hosted by at NSW Parliamentarians.
The government has identified 300 legal provisions for possible decriminalisation under Jan Vishwas 2.0, aiming to reduce compliance burdens, especially in manufacturing, according to Commerce Minister Piyush Goyal.
Marking 10 years of Make in India, Goyal emphasised the initiative's focus on boosting manufacturing and jobs, not targeting China.
Launched on September 25, 2014, the program aims to attract investment and make India a global manufacturing hub.
FDI inflows have doubled to $667 billion over the past decade, with 90% through the automatic route.
Goyal attributed this to anti-corruption efforts and confirmed no immediate changes to FDI policy.
The production-linked incentive (PLI) schemes, launched in 2020 with a Rs 1.97 lakh crore outlay, have attracted major investments, particularly in electronics and pharmaceuticals.
The goal is for every electronic device to include components made in India.
