Confederation of Indian Industry (CII)-Embassy of
India has organized an event in Washington to introduce Modi government's 'Make
in India' initiative to US industry.
Speaking on the occasion, Amitabh Kant, Secretary,
Department of Industrial Policy and Promotion (DIPP) said opening up of FDI in
key sectors, use of technology to leapfrog in terms of industrial growth and
ease of business are the hallmarks of 'Make in India' initiative.
Enabling manufacturing through industrial corridors,
infrastructure development and smart cities, opening up of FDI in key sectors
such as construction, defence, railways, medical devices etc, as well as
genuine commitment from the government to usher in growth, were also cited at
the event.
He urged US industry to take advantage of the vast
opportunities in the various sectors identified under 'Make in India' to enter
India, make for the domestic market and also export. In particular, he stressed that India and the United
States "must partner on merit and innovation".
Kant pointed out that given the imperative to create
millions of jobs for India's aspirational youth, jump starting the
manufacturing economy, which currently contributes only 16 per cent to India's
GDP, is critical.
Indian ambassador to the US S Jaishankar, in his
keynote remarks applauded the "strength of purpose and seriousness of
intent" of the new government in India and also highlighted the new
positivity in the US-India bilateral relationship.
Arun Kumar, US Assistant Secretary of Commerce for
Global Markets, spoke of the various initiatives already undertaken by the US
Department of Commerce to collaborate with the Indian government with regard to
the Make in India initiative and to support US companies.
He reiterated the US willingness to share best practices with India, through programmes like the Manufacturing Extension Partnership Network.
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