10 yrs of 'Make in India': Govt eyes $100 bn FDI inflows annually
The government is looking at a target of $100 billion foreign direct investment (FDI) inflows per annum in the coming years, in line with India’s thrust towards the “Make in India” programme, Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Amardeep Singh Bhatia said.
“We are targeting much higher investment flows. We have about $70-80 billion FDI inflows, which are coming in every year; we are expecting this to increase to at least $100 billion a year in the years to come,” Bhatia told reporters at a press conference on the completion of 10 years of the “Make in India” initiative.
The initiative was launched a decade ago, with an aim to boost manufacturing, attract foreign investment, enhance infrastructure, and promote indigenous production.
According to Bhatia, the “Make in India” initiative resulted in substantial achievements in manufacturing infrastructure, defence, and exports. Policies such as the production-linked incentive (PLI) scheme, FDI reforms, and infrastructure development have successfully attracted both domestic and foreign investments.
“While challenges remain in areas such as job creation and SME (small and medium enterprises) growth, the initiative has significantly enhanced India's industrial capacity and export competitiveness over the last decade,” he said.
Overseas inflows in the last 10 years stood at $667.4 billion, as compared to $304.1 billion in the previous decade – 2004-14. FDI equity inflow reported in manufacturing sector during 2014-24 was $165 billion, up 69 per cent as compared to 2004-14. Sectors such as automobiles, telecommunications, and pharmaceuticals saw the highest amount of foreign inflows. During the quarter of the current financial year (Q1FY25), India attracted FDI worth $22.49 billion, up 26 per cent Y-o-Y.
As far as PLI is concerned, at the end , the 14 sectors covered under the scheme have seen investment realisation of Rs 1.32 trillion and production of Rs 10.90 trillion, generating employment for approximately 850,000 individuals.
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