'Make in India' completes eight years, annual FDI nearly doubles to US$ 83 billion
As "Make in India," the government's flagship programme to encourage investment and innovation, reached its eighth year, annual Foreign Direct Investment (FDI) nearly doubled to US$ 83 billion in 2021-22.
The Ministry of Commerce and Industry reports that US$ 45.15 billion in FDI entered the country in 2014–2015. With US$ 83.6 billion, the year 2021–22 saw the biggest FDI intake ever. This FDI has been made in 57 sectors, 31 states and UTs, and come from 101 different nations.
The majority of sectors are open to FDI via the automatic route, the Ministry claims, as part of the government's liberal and open policy to encourage international capital. It stated that the Production Linked Incentive (PLI) scheme, which spans 14 important manufacturing sectors, was introduced in 2020–2021, giving the Make in India drive a major boost.
The government has started a US$ 10 billion incentive programme to develop an ecosystem for semiconductor, display, and design in India in recognition of the significance of semiconductors in the global economy.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.