Sep 24, 2017

The 'Make in India' initiative since its launch.
Sep 24, 2017
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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. 

For more information, Please visit Make in India Official website