Tag: Make In India

India invites US investments under Make in India scheme

India invites US investments under Make in India scheme

30/08/2016 16:34

India today invited American investments under the Make In India scheme, as the government strives to make the country a manufacturing hub.

Speaking at the US-India CEO Forum, which was attended by US Secretary of Commerce Penny Pritzker and several top Indian industrialists, Commerce Minister Nirmala Sitharaman invited the American investment to the country.

The meeting was as part of the second strategic and commercial dialogue, which happened between India and the US today.

Top Indian industrialists and bankers including Cyrus Mistry, Sunil Bharti Mittal, Deepak Parekh, Kumar Mangalam Birla, Chanda Kochhar, Anand Mahindra, and Hari S Bhartia, were present at the meeting.

During the meeting, India and the US held detailed discussions on infrastructure funding and renewable energy, and ways to promote innovation and entrepreneurship, said sources.

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India in 6th place among top 10 global manufacturers

India in 6th place among top 10 global manufacturers

04/04/2016 00:54

According to a report by United Nations Industrial Development Organization (UNIDO), India has occupied sixth place in a ranking of the world’s top ten manufacturing economics which is topped by Asian powerhouse China.

Previously, India was ranked as the ninth largest manufacturer in the world.

Data from UNIDO’s Yearbook shows that the Manufacturing Value Added (MVA) in India climbed by 7.6 per cent in 2015, compared to the previous year.

“India is now the sixth largest manufacturer in the world”, the UNIDO report said.

The quarterly index of industrial production (IIP) for Asia’s third biggest economy showed that manufacturing output climbed by 1 per cent in the fourth quarter of 2015 compared to the same period a year ago.

Meanwhile, global manufacturing growth slowed to 2.8 per cent in 2015 reflective of a weakening world economy.

“This slowdown could be due to reduced manufacturing growth rates recorded by major developing and emerging economies”, the report added.

After China, which is the world’s biggest manufacturer, the US, Japan, Germany and Korea are ranked second, third, fourth and fifth on the list of the largest global manufacturing countries, with Indonesia in tenth place.

In a bid to bolster India’s manufacturing prowess, the NDA government in 2014 unveiled its flagship ‘Make in India’ program to help make India a global manufacturing and investment hub by easing rules of doing business in the country including accelerating key structural reforms.

Tata Power SED inks MOU with Cranfield University

Tata Power SED inks MOU with Cranfield University

28/03/2016 16:40

Tata Power’s Strategic Engineering Division (Tata Power SED) and Cranfield University have signed a memorandum of understanding (MoU) to develop the relationship between the two organisation.

“The MoU sets out the intent of the organisations to explore the possibility of entering into a strategic partnership through research and development (R&D) and academic study in the areas of defence-related engineering and emerging technologies,” the company said in a filing to the Bombay Stock Exchange.

Commenting on the development, Tata Power SED, CEO, Rahul Chaudhry, said, “Tata Power SED has been committed to the cause of ‘Make in India’ since over four decades. With the present Government giving the necessary emphasis on the defence sector, we would like to extend the ‘Make in India’ definition to ‘Create in India’ for which we would like to leverage the experience and expertise of Cranfield University in defining standards and implementing them in our processes for design and development of critical Defence Systems and sub-systems for the country.”

Meanwhile, shares of the company closed trading at Rs 60.95 apiece, down 2.71 per cent from the previous close on BSE.

Indian firms to showcase ‘Make in India’ investment opportunities in China

Indian firms to showcase ‘Make in India’ investment opportunities in China

28/03/2016 01:36

Over 20 Indian firms are taking part in the ‘India-China Business and Investment Forum’ being held in China aimed at introducing latest investment opportunities under ‘Make in India’ campaign to their Chinese counterparts, said the PTI report.

The week-long event in Wuxi city included India Culture Week celebrations, which kicked off on Sunday.

The Indian firms would be introducing the latest investment opportunities in India in sectors like renewable energies, solar panels, roads, smart cities, infrastructure development, urban transportation and power sector, which are now available to Chinese companies under the ‘Make in India’ programme.

A series of business-to-business meetings have also been planned for participating Indian companies with their Chinese counterparts, Consul General of India in Shanghai, Prakash Gupta said.

A cultural performance from a Bhangra and Gidda troupe from India, sponsored by Indian Council for Cultural Relations, gave a performance at the South China University Campus.

In addition, an Indian Food Festival is also being held.

FDI in India up 29 pct after ‘Make in India’ launch: Min

FDI in India up 29 pct after ‘Make in India’ launch: Min

17/03/2016 10:15

The Indian Government has said that Foreign Direct Investment in the country has increased by 29 per cent for the 15-month period ended December last year after the launch of ‘Make in India’ initiative.

As per reports, the initiative aims at promoting India as an important investment destination and a global hub for manufacturing, design and innovation.

Commenting on the issue, Commerce and Industry Minister Nirmala Sitharaman told the media, “FDI inflow has increased 29 per cent during October 2014 to December 2015 (15 months after ‘Make in India’) compared to the 15 months period prior to the launch of this initiative.”

“During April-January 2016, the government has received 424 FDI proposals. Out these, 285 proposals have been disposed of,” he added.

The Minister further added that foreign investment in business to customer (B2C) e-commerce activities had been “opened in a calibrated manner” and entity was permitted to undertake retail trading through e-commerce under certain circumstances.