IBEF: December 30, 2014
New Delhi: The foreign direct investment (FDI) inflows into India rose by about 25 per cent to record US$ 17.35 billion in the April-October 2014 period, as compared to US$ 13.82 billion in the same period in 2013, said Ms Nirmala Sitharaman, Union Minister for Commerce and Industry, Government of India, on Dec 29, 2014. Improvement in the macroeconomic situation and investor sentiment on account of a series of steps taken by the new government has helped to attract higher FDI.
Speaking at the inaugural session of the day-long workshop on 'Make in India,' Ms Sitharaman added, "We recognise that manufacturing requires infrastructure ... 'Make in India' aims to boost entrepreneurship in India". The Government has also taken several steps to rationalise existing rules and increased use of IT to make governance "effective and user friendly". "A strong manufacturing sector has the potential to take our economic growth to a higher trajectory, provide jobs to our youth and fulfil their aspirations," highlighted Ms Sitharaman.
Speaking at the occasion, Mr Ajit Seth, the Cabinet Secretary said that e-Biz portal has been launched to provide single window platform for clearances and approvals for the industry. He further added that several central and state government services have been integrated with the portal and eight more central government services will be integrated within a month.
The national workshop aims at getting industry and government on the same platform. Discussions would be held on the results of the recent initiatives and also for the new initiatives that need to be undertaken to strengthen the 'Make in India' initiatives, said Ms Sitharaman.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.