In case you don't about 'Make in India' initiative.
The make in India initiative launched by Prime Minister Modi in September 2014 to transform India into a global design and manufacturing hub. Its launch was a powerful, galvanising call to action to India’s citizens and business leaders, and an invitation to potential partners and investors around the world.
Since its launch, India emerged as a major destination for Foreign direct investment (FDI) overtaking the United States and China. India attracted FDI of $31 billion compared to $28 billion and $27 billion of China and the US respectively. Most of its FDI received by India were from Mauritius, Singapore, Netherlands, Japan and the US.
Under the initiative, the government allowed 49% FDI in defence and up to 100% in sectors like Railway, Pharmaceuticals, Infrastructure, Automotive etc. learn more about sectors... The government has planned to invest around $1 trillion (Rs. 64 lacs crore) in infrastructure and 40% of them will come from private sector.
Make in India Effects
In the April–June quarter of 2015, 24.8% of smartphones shipped in the country were made in India.
In February 2015, Hitachi committed to set up an auto-component plant in Chennai under the initiative and it could increase its employee from 10,000 to 13,000.
In 2015, Huawei opened a new research and development (R&D) campus in Bengaluru and invested US$170 million to establish the research and development centre. It has also been granted an approval by the government to open a Telecom hardware manufacturing plant in Chennai.
In August 2015, Xiaomi introduced its Xiaomi Redmi 2 Prime smartphone that was assembled in its manufacturing unit at Andhra Pradesh's Sri City.
In 2015, LH Aviation, a France-based aircraft manufacturing company signed a Memorandum Of Understanding to set up a manufacturing plant in India to manufacture drones.
General Motors, An American Vehicle manufacturer company announced to invest $1 billion to begin manufacturing automobiles in Maharastra.
The same year Foxconn announced to invest around $5 billion to open a hi-tech semiconductor manufacturing facility in Maharashtra.
The same year Lenovo officially started manufacturing Motorola smartphones in Chennai.
In 2015, Taiwan based design manufacturer company, Wistron Corp announced to begin the manufacturing of devices at a new factory in Noida, Uttar Pradesh.
In 2015, Alstom (a France-based Rail transport company) and GE Transportation (a US-based Mining company) signed formal agreements to set-up locomotive manufacturing factories in Madhepura and Marhaura in Bihar worth around Rs. 40,000 crores.
Other companies like Samsung, Apple, Qualcomm etc have been also committed to invest under the Make in India initiative.