Home » tech news » #Modi2: 5 chords PM Narendra Modi hit right with Make in India
 
SPEED NEWS

#Modi2: 5 chords PM Narendra Modi hit right with Make in India

Speed News Desk | Updated on: 26 May 2016, 13:35 IST

Prime Minister Narendra Modi launched the Make in India campaign in September 2014. Since then, there's no going back for the NDA government's flagship programme.

Launched with an aim to attract businesses from around the world and make India a manufacturing hub, Modi has been able to garner an incredible amount of attention to India.

Make in India has emerged as a powerful and galvanising call to action in India's manufacturing sector. It is an invitation to potential partners and investors around the world.

Since its launch much has been done under the scheme. From an increase in investments from overseas to setting up of manufacturing units in the country, Make in India has proved to be a success so far.

The inaugural Make in India week kicked off this year in February with over 190 companies (including multinationals), 5,000 delegates from 60 countries, and leading industrialists participating in the event.

Here are the top 5 investments India received under the Make in India campaign:

1) Between September 2014 and November 2015, the government received Rs 1.20 lakh crore worth investment proposals from companies interested in manufacturing electronics in India.

2) In January 2015, Hyun Chil Hong, president & chief executive officer (CEO), Samsung South Asia, met Union MSME Kalraj Mishra to discuss a joint initiative under which 10 'MSME-Samsung technical schools' will be established in India. In February, Samsung said it will manufacture the Samsung Z1 in its plant in Noida.

3) In February 2015, Hitachi gave its commitment to the Make in India initiative. It said it would increase its employees in India from 10,000 to 13,000 and would try to increase its revenues from India from 100 billion Yen in 2013 to 210 billion Yen. It added that an auto-component plant will be set up in Chennai in 2016.

4) In November 2015, Taiwan's Wistron Corp, which makes devices for companies such as Blackberry, HTC, and Motorola, announced that it would begin manufacturing the devices at a new factory in Noida, Uttar Pradesh.

5) The Make in India week garnered Rs 15.2 lakh crore investment commitments from across the world. The host state Maharashtra alone accounted for Rs 8 lakh crore.

The manufacturing environment in India is currently positive and more and more foreign companies have expressed their interest to invest in the country.

First published: 26 May 2016, 13:35 IST
 
PREVIOUS STORY
NEXT STORY