Government has taken various initiatives to enhance domestic and foreign investment in India . Government has taken various initiatives to enhance domestic and foreign investment in India .
In a note to Parliament on Wednesday, Vice President of State for Commerce and Industry, Som Parkash, said that Centres reforms resulted in a consistent increase in Foreign direct investment (FDI) inflow, which increased from USD 45.15 billion in 2014-2015 to USD 84.84 billion in 2021-22.On September 25, 2014, Make in India was launched to attract investment, foster creativity, improve infrastructure, and make India a hub for manufacturing, design, and innovation.According to the Minister, it was one of the unique Vocal for Local initiatives that introduced Indias manufacturing sector to the world.According to the Ministry of Commerce and Industry, the Make in India initiative has significant successes and currently focuses on 27 sectors under Make in India 2.0.
For enhancing international cooperation and facilitating both domestic and international investment in the region, Ministries, State governments, and Indian Missions are incorporated into these programs.In addition to the existing initiatives of various departments and ministries, the government has taken various initiatives to enhance domestic and foreign investment in India.MoS Som Parkash said that the introduction of a Goods and Services Tax, a lowering of the Corporate tax rate, and other measures to improve the efficiency of doing business, FDI reforms, measures to reduce the risk of compliance, and programmatic steps to enhance domestic manufacturing through public procurement orders, as well as the Phased Manufacturing Program (PMP).The Government's actions have resulted in higher FDI flows in the region.