A top Indian government official has stated that the foreign direct investment in the country has grown by 35 per cent in the last 17 months, even as it has fallen by 16 per cent across the world. Department of Industrial Policy and Promotion Secretary Amitabh Kant said, “FDI in India has grown by 35 per cent at a point of time when FDI across the world has fallen by 16 per cent.”
He said after the 'Make in India' which was launched in end-September last year, the FDI grew by 40 per cent as compared to the previous year, “but if you look at the last 17 months of this government, FDI has grown by 35 per cent as compared to the previous 17 months.” He added that the FDI has come into manufacturing, consumer goods, logistics and food processing sectors. Talking about start ups, Kant said, “There is a huge energy, vitality and dynamism amongst start-ups in India and we need to carry this forward from digital start-ups to manufacturing start-ups, to start-ups in agriculture and social innovation areas, and from tier one to tier two and three cities.”
“The Prime Minister will be launching the Startup India movement on January 16 in New Delhi, we are inviting all the start-ups from Bengaluru to participate in this. On that day we will link up all the IITs, IIMs, NITs and central universities for viewing of the start-up India discussions from morning to evening.” He also mentioned that the PM will unveil the action plan on that day, to provide a major impetus.
“Challenge for India is to grow at 9-10 per cent over a long period of time over the next three decades or more," he said. "If India has to grow at 9-10 per cent, then the country must become a very easy and simple place for people to do business....; It has to grow rapidly in manufacturing sector,” he said.
