The `Make in India’ initiative was launched by PM Modi in September, 2014 with the aim of promoting India as an important investment destination and a global hub for manufacturing, design, and innovation. Thereafter, during the period October, 2014 to May, 2016, the FDI equity inflow has increased by 46%, i.e. from US$ 42.31 billion to US$ 61.58 billion in comparison to previous 20 months (February, 2013 to September, 2014). FDI inflow has also increased by 37% from US$ 62.39 billion to US$ 85.75 billion. India has been ranked 3rd in the list of top prospective host economies for 2016-18 in the World Investment Report (WIR) 2016 of UNCTAD.
Year wise details of the increase in FDI inflow during the last three financial years are as follows:
| Financial Year |
Total FDI Inflow (In US $ Billion) |
Growth |
| 2013-14 | 36.05 | 5% ^ |
| 2014-15 | 45.15 | 25% ^ |
| 2015-16 | 55.46 | 23% ^ |
To further boost the entire investment environment and to bring in foreign investments in the country, Modi Government has taken various measures like opening up FDI in many sectors; carrying out FDI related reforms and liberalization and improving ease of doing business in the country. Steps are being taken for development of support infrastructure to facilitate setting up of industries such as transport infrastructure, utility infrastructure etc. The Department of Industrial Policy and Promotion, in collaboration with State Governments, is trying to simplify and rationalize the regulatory environment through business process re-engineering and use of information technology.
(Siddharth Singh is Research Scholar in Jawaharlal Nehru University, New Delhi)