As 'Make In India' Drive Completes Eight Years, FDI Doubles To USD 83 Billion: Commerce Ministry

As per the ministry, in a bid to attract foreign investments, the government has put in place a liberal and transparent policy where most sectors are open to FDI under the automatic route.

Representative Image ( Image Source :Getty Images )

New Delhi: As ‘Make In India’, the flagship scheme of the Centre to facilitate investment and foster innovation completes eight years, the annual Foreign Direct Investment (FDI) nearly doubled to USD 83 billion, Ministry of Commerce and Industry said.  

As per the ministry, FDI inflows stood at $45.15 billion in 2014-2015 which reached USD 83.6 billion, the record high in 2021-22.

"The year 2021-22 recorded the highest ever FDI at $83.6 billion. This FDI has come from 101 countries, which has been invested across 31 states and UTs and 57 sectors in the country. On the back of economic reforms and 'Ease of Doing Business' in recent years, India is on track to attract $100 billion FDI in the current financial year," the ministry said on Saturday.

As per the ministry, in a bid to attract foreign investments, the government has put in place a liberal and transparent policy where most sectors are open to FDI under the automatic route.

The ministry further said that in order to boost the drive, the Production Linked Incentive (PLI) scheme across 14 key manufacturing sectors was launched in 2020-21.

The PLI schemes include strengthening domestic manufacturing, forming resilient supply chains, making the industries more competitive and boosting the export potential.

The scheme is also expected to generate significant gains for production and employment, with benefits extending to MSME eco-system.

According to the ministry, complemented by sincere efforts of domestic toy manufacturers, the growth of Indian toy industry has shown remarkable progress in less than two years despite the Covid-19 pandemic.

The import of toys in 2021-22 reduced by 70 per cent to Rs 877.8 crore and there has also been an improvement in the quality of toys in domestic market.

Simultaneously, the efforts of the industry have led to an export of toys worth Rs 2,601.5 crore in this fiscal, which is an increase of more than 61 per cent over Rs 1,612 crore in FY18-19.