Is ‘Make in India’ beginning to bear fruit?

Source : Live Mint,  15 May,  2017

Three years after the Narendra Modi government took charge in Delhi, one of its key programmes, the ‘Make in India’ initiative, may be finally bearing fruit. Three different sets of macro-economic data—the number (and value) of industrial projects being set up in the country, foreign direct investment (FDI) and merchandise exports—seem to point to a pick-up in industrial activity in Asia’s third-largest economy.

Of the three, it is the first trend that appears most promising. The value of new industrial units set up in the country rose 29% in calendar year 2016 over the previous year, a Mint analysis of Department of Industrial Policy and Promotion (DIPP) data shows.

It remains to be seen whether the trend is sustained in the coming years. The value of proposed projects in 2016 was significantly higher than that in 2015 but only marginally higher than that in 2014.

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