On September 25, the government announced that the ‘Make in India’ campaign to increase manufacturing in the country had completed eight years. India is also on track to attract at least $100 billion in Foreign Direct Investment (FDI) in the current fiscal year as a result of the country’s ease of doing business and economic reforms.
Make in India has made significant progress in 27 global industries and 57 in India, attracting “highest-ever” FDI of $83.6 billion from 101 countries in 2021-22 and investing in 31 union territories and states. FDI inflows totaled $45.15 billion in 2014-15, and have been steadily climbing since reaching an eight-year high.
It also states that investors do not need or require fewer permissions from the Reserve Bank of India (RBI) or the Government of India to invest in various sectors of the economy and that the reforms included the liberalization of certain guidelines and regulations to reduce unnecessary compliance burdens in order to reduce the cost of doing business in India.
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