India manufacturing: In the last decade, foreign investment in India's manufacturing sector has increased by about 69 percent to $ 165.1 billion. This information was given by the government. Union Minister of State for Commerce and Industry Jitin Prasad said that foreign equity investment in the manufacturing sector has increased by 69 percent to $ 165.1 billion in the last 10 financial years (2014-24). This figure was $ 97.7 billion between 2004 and 2014.

Responding to a question asked in the Rajya Sabha, the minister said that due to the Production Linked Incentive (PLI) scheme, foreign direct investment (FDI) worth $383.5 billion has come to India in the last five years (2019-20 to 2023-24).

Manufacturing activity in India continued to grow in July

The latest HSBC survey said that manufacturing activity in India continued to grow in July. This is due to strong domestic demand and an increase in new export orders. The HSBC final India manufacturing purchasing managers index (PMI) compiled by S&P Global stood at 58.1 last month.

755 investment proposals approved

The PMI index has remained consistently above 50 since July 2021, which shows that the activities in this sector are increasing. According to information received from government data, 755 investment proposals have been approved in 14 key sectors under the PLI scheme and an investment of Rs 1.23 lakh crore has been made till March, due to which about 8 lakh jobs have been created.

The central government has launched the PLI scheme to boost manufacturing in the country with a budget of Rs 1.97 lakh crore (about $26 billion) for 14 sectors. The sectors in which the PLI scheme has been launched include electronic components, mobile manufacturing, pharma, automobile and steel components, steel, telecom products, textiles, food, and other sectors.