According to the Confederation of Indian Industry (CII), government initiatives like ‘Make in India’ and production-linked incentive (PLI) schemes are playing a key role in attracting foreign investors to set up operations in India.
In a letter to Commerce and Industry Minister Piyush Goyal, CII Director General Chandrajit Banerjee praised the government’s focus on infrastructure development, including roads, railways, and ports, which has helped enhance the competitiveness of the domestic industry.
The letter, dated 5 November highlighted that the policy shift in India coincided with favorable global geopolitical conditions, with many international companies seeking to diversify their geographical presence.
“FDI inflows have increased from $45.14 billion in 2014-15 to $70.95 billion in 2023-24, indicating the growing interest of foreign investors for setting up base in India,” Banerjee noted in the letter.
He added that the PLI schemes have played a key role in attracting substantial investments.
The letter further emphasized that India’s manufacturing capabilities across various sectors such as automobiles, electronics, machinery, chemicals, shipping, and railways are expanding rapidly.
“You (the minister) have addressed each component of the Make in India initiative, be it ease of doing business, logistics and connectivity, investment promotion, or external engagement, with great insight, innovative policies and phenomenal implementation,” the letter concluded, recognizing the government’s role in shaping a more favorable business environment.
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