Investment commitments worth $45.68 billion have been made through Foreign Direct Investment (FDI) inflows after the launch of ‘Make in India’ initiative in September, 2014, the Commerce Ministry has said.
The investment commitments have been made in the period between October 2014 and December 2015, Commerce & Industry Minister Nirmala Sitharaman said in a written reply to the Rajya Sabha on Wednesday.
The Minister also pointed out that a little over 90 per cent of the total FDI received during April-December 2016 came through automatic route, the government said.
According to the Department of Industrial Policy and Promotion (DIPP), the country has received $29.44 billion foreign direct investment (FDI).
She said government has put in place a liberal and transparent policy for FDI, wherein most of the sectors are open to FDI under the automatic route.
“FDI equity inflow received through automatic route and approval route during the current financial year (up to December 2015) is 90.24 per cent and 9.76 per cent respectively,” Sitharaman said.
Demand for electronics In a separate reply, the Minister said the demand for electronics in the Indian market is expected to reach $ 400 billion by 2020.
Without intervention, at the current rate of growth, domestic production can cater to a demand of about $ 100 billion by 2020, she added.
She said that the government has taken several steps to promote electronics hardware manufacturing in the country.