The Confederation of Indian Industry (CII) has credited key government initiatives like Make in India and production-linked incentive (PLI) schemes for attracting foreign investors to establish operations in India. In a letter to Commerce and Industry Minister Piyush Goyal, CII Director General Chandrajit Banerjee emphasized that increased government investments in infrastructure—such as roads, railways, and ports—are enhancing the competitiveness of India’s domestic industries.
Banerjee also noted that India’s policy shift coincides with favorable global geopolitical conditions, with many multinational companies seeking to diversify their supply chains and set up new bases in India. The letter, dated November 5, pointed out that Foreign Direct Investment (FDI) inflows have surged from USD 45.14 billion in 2014-15 to USD 70.95 billion in 2023-24, signaling a growing interest in India as a preferred investment destination.
The CII further highlighted that PLI schemes have been instrumental in attracting significant investments, with sectors such as automotive, electronics, machinery, chemicals, shipping, and railways seeing rapid expansion of manufacturing capabilities.
In the letter, Banerjee acknowledged the government’s comprehensive approach to enhancing the Make in India initiative. He commended the focus on improving ease of doing business, logistics, connectivity, investment promotion, and external engagement through innovative policies and strong implementation.
With India’s manufacturing sectors becoming increasingly competitive, the continued success of these initiatives is expected to further boost foreign investment and economic growth.
