Advantage India
Robust
Demand
* Capacity creation in sectors such as infrastructure, power, mining, oil and gas, refinery, steel, automotive and consumer durables is driving demand in the engineering sector.
* Rising demand for electrical and construction equipment.
Attractive
Opportunities
* In 2019, the government announced investment of Rs. 100 lakh crore (US$ 1.5 trillion) in infrastructure development over the next five years.
* The government has proposed to grant Rs. 10 million to MSMEs within just 59 minutes through the online portal.
Policy
support
* De-licensed engineering sector; 100% FDI permitted.
* According to Crisil, the government's push towards better infrastructure, increased budgetary allocation and economic recovery will boost revenue of engineering and capital goods companies by 15% in FY22.
* In the Union Budget 22-23, the government has given a massive push to the infrastructure sector by allocating Rs. 199,107 crore (US$ 26.52 billion) to enhance the transport infrastructure.
Higher
Investments
* India’s comparative advantage vis-a-vis peers in terms of manufacturing cost, market knowledge, technology and creativity is leading to higher investment.
* Highly organised sector - dominated by large players employing over 4 million skilled and semi-skilled labour.
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