DIPP To Organize Make In India Week In Mumbai In Feb

Taking forward the 'Make in India' initiative of the Modi Government, the department of Industrial Policy and Promotion (DIPP) is set to organize a 'Make in India Week' in Mumbai from February 13 to February 18 and a host of events and exhibitions starting early 2016.

"The theme for the weeklong event would be innovation, design and sustainability. A number of events have been planned around this theme on the larger canvas of manufacturing," said Amitabh Kant, Secretary, DIPP in an interaction with reporters. He said business delegations from over 60 countries are expected to participate in this weeklong event which will be inaugurated by the Prime Minister Narendra Modi.

Kant cited several international reports and surveys that list India has first among the world in terms of fastest growing economy, most attractive investment destinations, choice for tech MNCs to set up R&D centres outside their home countries and among the top 10 FDI destinations. The DIPP Secretary said India has moved up 16 places on the Global Competitiveness Index 2015-16 and there was a 35 per cent growth in FDI equity inflows.

Make In India Is Working
Kant said that the Make in India initiative has been working as reflected in the increased FDI numbers and the various announcements made by MNCs. In order to capture some of the recent investment announcements, the DIPP has made a report. As per the report, the Indian retail industry has emerged as one of the most dynamic and fast-paced industries due to the entry of several new players. "The sector accounts for over 10 per cent of the country's gross domestic product and around 8 per cent of employment," it said.

Citing as examples of commitment made by some of the international retailers, the report listed IKEA's plans to open 25 stores across India entailing an outlay of around Rs 12,500 crore. "Other developments include entry and expansion by global majors such as GAP (opened the flagship store in New Delhi in May and has four stores). The H&M group, which plans to invest Rs 720 crore in India and open 50 single brand retail outlets in the next few years. Wal-Mart India also plans to open 500 stores in India in the next 10-15 years," it said.

In the auto sector, the report said General Motors has announced plans to invest US$1 billion in India apart from other announcements on capacity expansion by Volvo India, Fiat, Mercedes-Benz and BMW among others.

The report also mentioned the announcement made by Softbank, Foxconn and Bharti Enterprises to invest about USD 20 billion in solar projects in the country.
On the defence side, it said that Pipavav defence has announced its intention to develop India's first smart city for the defence sector at an estimated cost of USD 1 billion. For food processing industry, the report said Kellogg wants to triple the size of its Indian business; after making an investment of USD 60 million in its second manufacturing plant at Sri City in Andhra Pradesh, Kellogg Company is already planning to set up a third cereal facility in India in 3-4 years.

Last month Kant had said that India has thrown open 92 per cent of the FDI route through automatic channel. Kant had said that the role of the states was crucial in achieving the task of easing business rules. While Gujarat, Andhra Pradesh and Jharkhand emerged as the top three states on the Centre's matrix of 100 points, this year the Centre would be measuring the performance of different states on a scale point of 340, Kant said.

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