Q: The government is targeting a 30% rise in the inflows of foreign direct investment (FDI) annually in the coming years, aided by the government's Make in India programme.
Hi Bashir and Sashidharan, This event will focus on innovation, design and sustainability, and is expected to witness the participation of over a 1000 companies and delegates from over 60 countries. Some of them are Foxconn, Zenith, IKEA, Wanda group of China are planning to invest in India.
We are welcoming them as it is a good move towards a developing nation. India is today the most open economy in the world. We have opened up everything except multi-brand. The government has done a lot of liberalisation across sector. These are all things verified at the political level.
After the launch of Make in India, FDI in the last 17 months, as compared with the previous 17 months, has grown by about 35%. We have been able to get substantial investments in areas which include electronics, automotive, food processing, textiles and garments, renewable energy and construction.
Right Bashir, FDI inflows touched $47.50 billion between June 2014 and October 2015, compared with $35.09 billion in the previous 17 months. Prime Minister Narendra Modi will inaugurate the Make in India Week in Mumbai on February 13 coming year.