India@FDI Magazine

Investor Facilitation Cell
An Investor Facilitation Cell (IFC) dedicated for the Make
in India campaign was formed in September 2014 to assist
investors in seeking regulatory approvals, hand-holding
services through the pre-investment phase, execution and
after-care support.
Indian embassies and consulates have also been told to
disseminate information on the potential for investment in
the identified sectors.
DIPP has set up a special management team to facilitate
and fast track investment proposals from Japan.
Similarly ‘Korea Plus’, launched in June 2016, facilitates
fast track investment proposals from South Korea and offers
holistic support to Korean companies wishing to enter the
Indian market.
Six industrial corridors are being developed across various
regions of the country. Industrial cities will also come up
along these corridors.
The DIPP, along with the Karnataka government, organised
a Make in India conference, ‘Karnataka Calling,’ in Bengaluru
in February. The two-day Conference featured 10 sectoral
sessions that were attended by prominent dignitaries, industry
leaders and investors.
More than 2,500 delegates from India and abroad were
a part of the conference, with around 600 B2B meetings
scheduled across different focus sectors.
The conference, a part of the Make in India initiative, was
held to seek investments in key sectors such as electronics,
aerospace and defence among others, as well as to showcase
Karnataka’s potential as an investment hub.
The positive climate for investments in India today can be
greatly attributed to the government’s efforts to streamline
processes such as single-window clearances for project
approvals, building plan approvals and getting electricity,
among others, says the spokesperson.
Liberalising FDI regime
The government has also liberalised the FDI regime, making
India one of the most open economies in the world.
One of the major focus areas for the government, which
is poised to play a big role in the Make in India initiative, is
the aerospace and defence sector. India’s aviation market is
growing at a rapid pace and is anticipated to become the
third-largest globally by 2020.
Heavy equipment and machine tools is another sector
that is crucial for the growth of the economy. A session on
‘Reinventing the new growth paradigm – Machine Tools and
Heavy Engineering’ discussed India’s potential to become a
major hub for the heavy engineering industry.
The conference also featured a session ‘Moving towards
Global Competitiveness: Biotechnology and Pharmaceuticals’.
India is already ranked among the top 12 biotechnology
destinations in the world and second in Asia.
The pharmaceutical industry has been a key contributor
to the growth of the country’s economy. Kiran Mazumdar
Shaw, a pioneer in the biotechnology industry, echoed the
significance of manufacturing to propel the future of the
country. She welcomed the emergence of startups in the
sector, but emphasised the need for innovation.
The startup movement is inextricably linked to the “Make
in India” initiative. With the technology landscape undergoing
an evolution, there is a rising breed of manufacturing startups
that are driving innovation and opening wider avenues for
growth in the country.
Most of these startups are working towards the application
of modern technologies in domains such as automobiles,
logistics and food processing, among others.
Driving innovation
Manufacturing startups are driving innovation and widening
the frontiers of the industry by opening new avenues for
growth in the country. Indian entrepreneurs are going beyond
app-based businesses and creating innovative products using
robotics and artificial intelligence, big data and analytics.
With nearly 5,000 startups, India has the third-largest
startup ecosystem in the world.
Providing impetus to startups is significant for achieving
the vision of Make in India and budding entrepreneurs are
playing a key role in taking this campaign to its next level. The
next generation of Indian startups focuses on the application
of modern technologies in domains such as automobiles,
logistics, hardware and food processing.
According to the spokesman, their mushrooming growth,
specifically in the tech-dominated startup space, can be largely
attributed to government initiatives such as Startup India, a
programme based on an action plan to boost innovation and
startups in the country.
The government is offering simplification and handholding,
tax incentives, funding support, IPR protection benefits and a
dedicated hub to provide support to startups.
“Today, India’s credibility is stronger than ever,” says
a government spokesperson. “There is visible momentum,
energy and optimism. Make in India is opening investment
doors. Multiple enterprises are adopting its mantra. The
world’s largest democracy is well on its way to becoming the
world’s most powerful economy.”
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