India has improved a lot and has grown up to 17 notches ranking 63rd in the business survey report published by the World Bank. India believes in greater awareness about opportunities especially in the manufacturing sector would lead to better growth prospects. Department of Industrial Policy and Promotion is striving hard to push for the target, which ideally seems feasible. The ‘Make in India’ campaign started by Prime Minister Narendra Modi focuses on attracting foreign investment and enhance India’s overall competitiveness.
The program, launched in September 2014, was to encourage companies to manufacture their products in India with an objective to increase the share of the manufacturing sector in the Indian GDP. The program covered 25 sectors and the sole motive was to make India a Global Manufacturing Hub. Some of the 25 sectors covered are Automobiles, Auto Components, Biotechnology, Construction, Chemicals, Food Processing, Oil & Gas, Pharmaceuticals, Renewable Energy, Wellness, Thermal Power, etc.
This year’s budget allocated INR 90 crore (approx) under the scheme of investment promotion that will be spent on launching an awareness campaign for better ease of doing business ranking and to attract investment in 25 sectors selected under Make in India.
The launch of “Make in India” is showing some positive results because, after the launch of the plan, India received investment commitments worth US$250 billion and investment inquiries worth US$23 billion from Sep 2014 – Feb 2016.
In conclusion, Make in India is a good initiative by the government of India and it can convert India from an importing economy into an exporting economy.
Israel has innovative technologies available for sectors – Automobiles, Auto Components, Biotechnology, Construction, Chemicals, Food Processing, Oil & Gas, Pharmaceuticals, Renewable Energy, Wellness, Thermal Power, etc. Interested companies may kindly contact Ms. Veshala Gajaraj, Trade Officer in the Israel Consulate, Bangalore at:
Email: veshalakshe.gajaraj@israeltrade.gov.il Tel:+91-80-49406517
Source:
https://www.jagranjosh.com/general-knowledge/ease-of-doing-business
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