Make in India: October 2014

Launch of "Make in India" Campaign by Hon'ble Prime Minister

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There is a high tide of hope for change in India. This May, across India's immense diversity, 1.25 billion people spoke unequivocally for political stability, good governance and rapid development. India has a government with a majority in the Lok Sabha, our lower house of parliament, for the first time in 30 years. A young nation with 800 million people under age 35, India is brimming with optimism and confidence. The young people's energy, enthusiasm and enterprise are India's greatest strength. Unleashing those attributes is my government's biggest mission.
We will pursue this mission by eliminating unnecessary laws and regulations, making bureaucratic processes easier and shorter, and ensuring that our government is more transparent, responsive and accountable. It has been said that doing the thing right is as important as doing the right thing.

BEIJING: Prime Minister Narendra Modi's 'Make in India' campaign made a big splash in China as large number of investors flocked to the special investment promotion events organised by Indian missions highlighting the country's fast-changing investment liberalisation process.

Over 250 investors, officials as well as journalists attended the event in Beijing in which Modi's speech made in New Delhi was screened with elaborate presentations from Indian Ambassador Ashok Kantha and Trade Councillor Namgya Khampa.

A special business event and roundtable discussion on 'Investing in India's Manufacturing Sector' was held to seek China's investments in the backdrop of $20 billion commitment made during the just concluded visit of President Xi Jinping. China will investment in two industrial parks besides railway modernisation.

"The event is very constructive and fruitful. Especially Modi's remarks gave us clear guideline and gave us encouraging signal that Indian market is increasingly open," Gao Ya, External Communication Manager of Chinese firm TBEA which had invested in Gujarat.

Chinese investors will play more important role in India in the coming ten years and there will be more Chinese investments in India, he told PTI after the event.

"There is no doubt Chinese investments in India will grow. China's manufacturers at all levels are looking for opportunities abroad. India is number one priority, the best priority as it is second largest market after China," he said.

He said Modi's speech brought about sense of clarification about India's commitment to promote foreign investment.

"Before there is a lack of comprehensive knowledge about India and after Modi's speech and based on our reading India was more open than China in 1980s," he said.

$20 billion announced by President Xi is only the beginning, more will follow, he said.

India has many advantage in terms of labour, young people and open culture, he said adding that foreign investors expects more liberalised customs, visa and licence regime.

Jack Huan, an official of the China National Heavy Duty Truck Group, said it may be an opportune time for Chinese firms to enter Indian markets it is good to hear Indian Prime Minister inviting Chinese and other investors from all over the world.

India now has a facilitation window of sorts for investors who want to do business in the country, ushering in a new paradigm that is meant to make India’s notorious labyrinth of red tape and bureaucratic hurdles an unhappy memory from the past.

A day after India’s triumphant Mars mission and hours before he left for his first visit to the USA as prime minister, Narendra Modi launched the “Make in India” campaign. The initiative is meant to cut red tape, spur foreign investments and transform India into a manufacturing powerhouse, correcting the biggest weakness of Indian economy.

The initiative got a high-profile launch in New Delhi today, with India’s top industrialists, including Reliance Industries chairman Mukesh Ambani and Wipro chairman Azim Premji, speaking about the new deal for foreign investors, alongside Modi.