Rs 15 lakh cr investments committed at MIIW
The Make In India Week concluded in Mumbai on Thursday with a business commitment of over Rs 15 lakh crore in investment, the Commerce Ministry said in a press release.
Addressing the closing press conference, Secretary, Department of Industrial Policy & Promotion, Amitabh Kant said, “The Make In India Week witnessed a business commitment of Rs 15.20 lakh crore in investment. Make In India Week in Mumbai has been phenomenal hit. It has successfully brought manufacturing, design and innovation to the centrestage.”
Maharashtra Chief Minister Mr. Devendra Fadnavis said his state was successful in attracting investment worth Rs 8 lakh crore across sectors. He said a Task Force is being set up headed by the State Industry Minister to ensure that MoUs signed are translated into actual investments.
There was a commitment to achieve a target of 25 per cent contribution to GDP through manufacturing and provide investment enabling environment to foreign and domestic investors, the release said.
The Make in India Week also made commitments to promote quality jobs through development of innovation and design ecosystem and forge partnerships for manufacturing sector development for enabling “Champions of Manufacturing”.
According to the release, the event also highlighted the need for active cooperation with States for promoting manufacturing across all States in India and remotest parts of the country and promote industry and academia linkages for joint research and product development to drive frugal engineering.
The week-long event created avenues for showcasing, connecting and collaborating for manufacturing in India, promoted an investment enabling environment, provided encouragement to design, innovation, youth and startups and provided a platform where global CEOs, think tanks, policy makers, diplomats and political leaders converged.
More than 8 lakh people visited the Make In India Expo and other events, of which 49,743 were registered delegates. One hundred and two countries were represented in the mega expo.
Some of the high profile deals signed at the Make in Indi Week include one between Sterlite Group company TwinStar Display Technologies and MIDC for LCD manufacturing unit in technical collaboration with Autron of Taiwan, BAE Systems agreement with Mahindra for assembling and testing of M777 Howitzers and Oracle's $400 million investment in India to set up 9 incubation centres.
A clutch of policies and initiatives were unveiled at the week-long event. Among them was the Rs 2,200- crore Electronics Development Fund to finance innovations, research and development in electronics manufacturing sector, the National Capital Goods Policy to create an ecosystem for a globally competitive capital goods sector, and Investment Opportunities in Food Processing Industry.
Among the states, hosts Maharashtra led the way announcing five new policies – the Maharashtra Retail Policy, Single Window Policy, Maharashtra Maritime Industries Policy, Electronics Policy covering FAB manufacturing and a special package for SC/ST entrepreneurs.
Odisha Industrial Development Plan 2025, Jharkhand Industrial Promotion Policy 2016 were also unveiled during the week, the release said. (SH)
Fibre2Fashion News Desk – India