“Make in India’ looks at $120-bn investment from 10 companies”

The government is expecting its ‘Make in India’ programme to be a major success, with a report by the Department of Industrial Policy and Promotion (DIPP) revealing that 10 companies have either committed or indicated investments worth $120 billion, mostly over a period of five to 10 years. Asked how much of the investments committed could actually translate into reality, DIPP Secretary Amitabh Kant said: “We are confident that these committed investments will actually flow in.” Prime Minister Narendra Modi will inaugurate the Make in India Week in Mumbai on February 13. The event will focus on innovation, design and sustainability, and is expected to witness the participation of over a 1,000 companies and delegates from over 60 countries, he added. According to the list prepared by DIPP, Reliance Industries, under the Digital India campaign launched on July 1, has pledged an investment of $42 billion, which is expected to create 500,000 direct and indirect jobs. However, the timeframe for such investments isn’t revealed in the list. RIL, under the Reliance Jio brand, has also committed to roll out internet protocol-based wireless broadband infrastructure across the country, and is also expected to set up a nationwide distribution network for small vendors to sell and service devices. Similarly, SBG Cleantech Consortium (SoftBank Corp, together with Bharti Enterprises and Foxconn) will invest about $20 billion over the next 10 years to generate 20 gig watt (GW) of solar power and manufacture solar power equipment in India. The consortium SBG Cleantech Ltd would scout for project land in Andhra Pradesh and Rajasthan. The new company intends to participate in the 2015-16 round of solar power plant tenders under the National Solar Mission (NSM) as well as state-specific solar ventures. Foxconn would help with solar equipment for the projects. Bharti Enterprises has also committed to invest $16.7 billion in the next five years. The funds will be invested in creating infrastructure in rural and urban areas and setting up an eco-system to enable usage of e-health and e-education facilities. The company also plans to manufacture a range of affordable electronics products in India through collaboration with various manufacturers around the world. Dalian Wanda Group has decided to invest $10 billion over the next five years and has been considering a few sites to develop integrated industrial townships and theme parks. Idea cellular has indicated investments $7 billion by 2020 for network and broadband deployment. Other notable companies that have either indicated or committed investments are Sterlite Technologies, Adani Group, Foxconn Technology, JSW Steel, Reliance ADAG, IKEA, Airbus, CISCO, Bombardier, Siemens, General Motors and Uber Technologies. Source-financialexpress For further assistance related to Investment based queries in Dubai &India, please visit: http://www.pursueasiaconnexio.com/#