In what could be a major boost for the ‘Make in India’ initiative, it is learned that the past year has seen record Chinese investments coming into this country. The growth is six times than what Chinese companies invested in 2014. This has been recently reported by Chinese-run party newspaper ahead of President Prabab Mukherjee’s visit to the country.
The paper said that most of this investments is because of Prime Minister Narendra Modi’s ‘Make in India’ initiative and also India’s ‘favourbale tax policies.’ Total investment was still a relatively low US$ 870 million in 2015 according to the report in the Global Times, a tabloid published by the official People’s Daily.
What is good news is that this number is expected to rise alarmingly in 2016, There are some major investment announcements with one being an industrial park in Haryana from real estate giant Wanda group, with a projected net investment value of $10 billion, as well as a $1 billion investment commitment from construction giant Sany.
If we talk about smartphones, there are numerous Chinese companies that have started manufacturing in this country and more are expected to follow suit in the coming months.
By Atanu Kumar Das