India Government plans National Investment Grid to map business opportunities across the country. National Investment Grid may encourage private investment in the India. The proposed grid will have details of upcoming projects, projects that are under construction and details of land available with the Centre, states, their agencies and public sector undertakings. Foreign Direct Investment(FDI) growth in the country is picking up its speed but that alone cannot meet the needs of our country and its people, unless domestic investment picks up. National Investment Grid may help to boost domestic investments.
‘Make in India’
Like China, with an aim to turn the country into a global manufacturing hub, Prime Minister Narendra Modi unveiled his ambitious ‘Make in India’ campaign. Modi expounded that ‘Make in India’ is not a slogan, it is not an invitation but it is a responsibility for all of us. If Indians treat this as a responsibility, people will come in from across the world. In the next decade, India expects to ramp up manufacturing to 25% of the GDP.
It was also rolled out with the aim of creating millions of jobs in the country. Under the ‘Make in India’ initiative, the government has announced several steps to improve the business environment by easing processes to do business in the country, and attract foreign investments.
The following changes happened in India after announcing ‘Make in India’ programme.
- FDI is flowing to India. Net investments by foreign institutional investors, or the money coming through financial markets, totaled $40.92 billion in the fiscal year ended on March 31, about 7 times higher than the previous year.
- Giants like Uber, General Motors and Foxconn are aiming India as their primary target for business. They have already announced that they will invest billions of dollars in India.
- Country’s industrial production is rising big.