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FDI up about 35% in last 17 months on Make in India push: DIPP secy

The department is all set to launch a Make in India week in Mumbai next year where over 1,000 companies and delegates are expected to participate from over 60 countries.

By: ENS Economic Bureau | New Delhi | Published: December 18, 2015 1:02:35 am

Claiming that the Make in India initiative has made a “tremendous impact” on investment climate in the country, the department of industrial policy and promotion (DIPP) on Thursday said that following the initiative, foreign direct investment has surged by about 35 per cent in the last 17 months compared to the same period a year ago.

“Since the announcement of Make in India we have been able to get significant investments. After the launch of Make in India, FDI in the last 17 months as compared to the previous 17 months has grown by about 35 per cent,” DIPP secretary Amitabh Kant said.

The department is all set to launch a Make in India week in Mumbai next year where over 1,000 companies and delegates are expected to participate from over 60 countries. Prime Minister Narendra Modi will kick off the week-long event on February 13, on the theme of innovation, design and sustainability, the secretary said.

Emphasising that the aim is to attract more FDI into the country, Kant said that the government has been successful in getting substantial investments in areas including electronics, automotive, food processing, textiles and garments, renewable energy and construction. “Many of the investments have fructified, many are in the process of fructification. We are hand-holding for many investments. All the investments are in the process of happening,” Kant said.

The department is also taking measures to hold road shows for pushing domestic companies to manufacture in the country. However, the key challenge is to make India the easiest and simplest place to do business, a goal which the government is determined to achieve.

“In the next one month DIPP officials will be going across India holding a series of roadshows to provide impetus and momentum to domestic companies, push their investments. We will also provide a push to startups,” Kant said.

Detailing the progress made in the Smart City initiative, he said that engineering, procurement and construction contracts worth Rs 3,000 crore have been awarded for the upcoming cities of Dholera in Gujarat, Shendra in Maharashtra and Vikram Udyogpuri in Maghya Pradesh, where work has started.

Further, the master planning of the Chennai-Bengaluru Industrial Corridor has also been initiated.

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