India is targetting annual foreign direct investment (FDI) inflows of $100 billion, up from a current average of $70-80 billion, in step with the thrust towards the \u2018Make in India\u2019 programme\u00a0which has completed a decade, the Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Amardeep Singh Bhatia has said.<\/p>\n
\u201cWe are targeting much higher investment flows. We have about $70-80 billion FDI inflows, which are coming in every year. we are expecting this to increase to at least $100 billion a year in the years to come,\u201d Bhatia said at a press conference on Wednesday.<\/p>\n
\u2018Make in India\u2019 illustrates the collective resolve of 140 crore Indians to make our nation a powerhouse of manufacturing and innovation, Prime Minister Narendra Modi said in a social media post on Wednesday. \u201cIt\u2019s noteworthy how exports have risen in various sectors, capacities have been built, and thus, the economy has been strengthened,\u201d he said.<\/p>\n
The \u2018Make in India\u2019 initiative resulted in substantial achievements in manufacturing, infrastructure, defence and exports, Bhatia said.<\/p>\n
\u201cGovernment policies such as the PLI scheme, FDI reforms and infrastructure development have successfully attracted both domestic and foreign investments,\u201d he said.<\/p>\n
The private sector has responded positively, with companies across various sectors expanding their manufacturing capacities, adopting advanced technologies, and establishing India as a key player in global manufacturing, he added.<\/p>\n
\u201cWhile challenges remain in areas such as job creation and SME growth, the initiative has significantly enhanced India\u2019s industrial capacity and export competitiveness over the last decade,\u201d the Secretary said.<\/p>\n
\nKey achievements
\n<\/h5>\n
Listing key achievements under Make in India, Bhatia said that it provided a thrust to automobile and EV manufacturing. The government also introduced the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme to boost electric mobility and reduced corporate tax rates for new manufacturing units.<\/p>\n
India became a global hub for electronics manufacturing, particularly for smartphones, growing as the second largest producer of mobile phones. Companies such as Foxconn, Wistron and Pegatron expanded their assembly lines in India.<\/p>\n
In 2023-24, Apple exported iPhones worth more than $12 billion from India, signalling the country\u2019s emerging role in global electronics manufacturing, he said.<\/p>\n