"Make In India" Project of Narendra Modi, PM- Progress Thereon
The American defense Secretary Carter visited India very recently and signed many agreements pertaining to manufacturing of defense equipment in India including the passing on of 'Aircraft Carrier' designing/ building technology to India. Besides that China and Japan are also installing the plants to manufacture the various types of goods in India. In the process China and Japan will invest 20 Billion Dollar and 25 Billion Dollar receptively in India. Japan has also agreed to put various factories in the Industrial Corridor of Mumbai -Delhi. China has committed to establish industrial park in Gujarat.
Even American companies are also investing in India as they are interested in using the young intellectual power of India. It is to be noted that India is producing 1.5 million Engineering professionals Every Year. Besides that 65% of Indian population is Young and below 35. Hence India is bubbling with young people which can be utilized for Industrial Purpose
The Industrial climate for the investment in India is very favorable. The following companies have invested in India as under-
i) Amozon- 2 Billion Dollar in E- commerce
2) Uber - 400 Million Dollar in E- commerce
3) Soft Bank Corp(Japan)- 800 Million Dollar in On line Retailer.
4) Catamaran Venture- 96.2 Billion Dollar in Software Technology
5) Zomato- 50 Million Dollar in Software Industry
Besides that many High Tech Start Up companies like Grofer, MobiK Wik, Zopnow, Paper Tap, have also attracted considerable amount of funds from abroad. This shows that Modi's 'Make In India'Project is picking up. The transfer of technologies to India in the fields of Energy, Atomic Research, Railway, and defense sectors will change the industrial face of India.
Besides that Indian GDP is also rising and it will surpass the Chines GDP of 7.5 very soon. That is also one of the plus point in this matter.
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