Make In India 2.0 To Focus On Drones, Toys, EVs

New Delhi, Dec 27 (KNN) Sectors like drones, toys, robotics, electric vehicle (EV) components and electronics are set to receive major boost in the second phase of ‘Make-in-India’ initiative, the Ministry of Commerce Industry said on Tuesday.

The government has decided to focus on these sectors due to their potential for exports and jobs generation.

The Department for Promotion of Industry and Internal Trade (DPIIT) is working closely with 24 sub-sectors to boost manufacturing in the country, it said. 

According to the ministry, the sectors have been “chosen keeping in mind the Indian industries' strengths and competitive edge, need for import substitution, potential for export and increased employability”. 

The sectors include furniture, air-conditioners, leather and footwear, ready-to-eat, fisheries, agri-produce, auto components, aluminium, agrochemicals, steel, textiles, EV components and integrated circuits, ethanol, ceramics, set top boxes, televisions, close circuit cameras, medical devices, sporting goods and gym equipment. 

“Efforts are on to boost the growth of the sub-sectors in a holistic and coordinated manner,” the ministry said. 

As per the latest official data, foreign direct investment (FDI) equity inflow in the manufacturing sector in the last 9 financial years (2014-23) rose to USD 149 billion, which is 55 per cent higher than USD 96 billion recorded during the previous nine years (2005-14) period. 

Overall FDI inflow in the nine-year period from FY 2014 to 23 increased to USD 596 billion, almost double the previous comparable period. 

“These trends in India’s FDI are an endorsement of its status as a preferred investment destination amongst global investors,” the ministry said.     

(KNN Bureau)