The central government has taken a big step towards making investment of global companies in India easier. 16 ministries have been brought to a single platform, which will be used to ensure that foreign investments are approved quicker, because even today, the biggest problem in increasing the investments is the delays in getting approvals from different departments. Due to such delays, the estimated costs of 1 project out of every 4 gets augmented.
The Centre is preparing to get mega projects worth 100 lakh crores to India from China. There are many companies like Apple which want to shut their manufacturing units down in China and come to India instead, and therefore, the Gati Shakti Yojana is being expanded. Amritlal Meena, Special Secretary, Ministry of Commerce and Industry said that global companies are enthusiastic about production in India.
The Centre has established connections with many global manufacturing companies producing in China, and these companies have 2 primary demands. First, cheap labour, and second, English-speaking employees, and both of these factors are in the favour of India. The central government is of the opinion that in order to deal with China, it is important to attack its real power, which is manufacturing, and which is possible to take place in India as well, especially when, after the pandemic, many foreign companies want to shift their manufacturing units out of China.
A detailed analysis has been done regarding what companies from different sectors can come to India from China. It has also been almost finalized as to where they can be established in India.
