The 2015 Baseline Profitability Index put named India as the number one investment destination. This gave birth to the idea of Make in India, an initiative of the government at the National level. Through this initiative the government attempts to attract potential investors to venture into India and ‘Make in India’. The brief to the program reads, “A major new national program. Designed to facilitate investment. Foster innovation. Enhance skill development. Project intellectual property. And build best-in-class manufacturing infrastructure. There’s never been a better time to Make In India.”
A golden opportunity for India, the initiative has begun to attract interested investors to the project and its market value is further enhanced by KPMG naming the project in its ‘100 most innovative Global Projects’. The project is considered as one of the most innovative infrastructure projects, globally. Some of the investors who show interest in investing in India have begun coming forward. The most recent is global electronic giant Foxconn, looking to invest 5 billion dollars in Maharashtra. The Taiwan based company has been given 1,500 acres of land to set up a plant in Maharashtra. Before this Sony had announced its investment plans and campaigns with Make In India.
Tie ups with companies like the Adani Group, Micromax and Snapdeal are already paving the way to establishing a strong domestic manufacturing infrastructure. Spice Mobiles announced in January of 2015 that they will be looking to set up a plant in UP, with an impressive plan to invest 500 crores. Samsung had planned to manufacture its Samsung Z1 at the Noida plant. Committing to the initiative Hitachi has announced an elaborate plan to set up an auto-component plant in Chennai. Huawei has announced plans to invest US$ 170 Million and opened a new research and development campus in Bengaluru. They are also in talks to set up a telecom hardware manufacturing plant. Recent reports suggested approval had been granted by the state and central government. LH Aviation is also said have signed an MoU with OIS Advanced Technologies for the Establishment of a plant manufacturing drones. Mahindra is also said to be in talks with a major company and is in the process of making a huge announcement.
The response to this national program has been phenomenal as it continues to attract investors to the domestic fore. With plans such as the Marine Products Export Development Authority looking to provide shrimp eggs to shrimp farmers, this is one Indian project which seems to be exploring individual benefits of the varied industries in India.