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THE INDIAN MANUFACTURING LANDSCAPE

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    Foreign Company Registration in India  

     

    Over the years, India has been relying on its service sector prowess which is the major contributor to the Indian GDP.

    But slowly and steadily, India has realised the fact that it has missed the bus to China when it comes to manufacturing landscape.

    Accordingly, the recent Modi government has taken quite a few initiatives to develop a manufacturing eco-system in India which has attracted lots of foreign investment in India as well as led to more and more foreign company registration in India.

    Some initiatives taken during the recent years like Make in India, Production linked Incentive Schemes, Ease of doing business schemes has restore the faith and confidence of foreign companies and provided them business opportunities to earn huge profits by setting up business in India.

    The government has been extending support to the manufacturers through training programmes in order to ensure availability of skilled workforce, providing subsidies and incentives for technological upgradation along with special scheme focused on micro, small and medium enterprises (MSMEs) for ensuring overall development.

    Further tax and legal reforms has been done for development of manufacturing sector and ease of business in India which also lead to India becoming preferred destination for foreign company registration.

    Some Facts relating to Indian manufacturing sector

    Here are some facts:

    • IN the first half of FY21 India received US$30 billion worth of funds through foreign direct investment.
    • In September 2021, the government of India approved PLI Scheme worth RS26058 crore for auto industry.
    • By the end of 2022 the government of India aims at creating 100 million job in this sector
    • The appliances and consumer electronics (ACE) market is expected to grow US$21.18 billion by 2025
    • As per NITI Ayog electric vehicle financing industry is projected to US$50 billion by 2030.

    India’s major industrial landscape

    India already has a number of centre scattered across the country that contributes significant to manufacturing sector of economy. It should be highlighted that several substantial steps and improvements in the infrastructure domains, including as power, water, highways, and airports are required to expand the capacity and power of these landscapes.

    Despite this it continues to attract a large number of foreign direct investment and will do in future. Here are brief description of factories:

    • Aurangabad, Maharashtra: located to east of Mumbai. It is known as health care manufacturing centre. Many brewing and pharmaceutical companies have set up shop in India.
    • Creator Noida, Uttar Pradesh: this city is best known for auto mobile centre. It has steady supply of resources, making it a big draw for multinational corporations like Samsung, LG, and Yamaha etc.
    • Haspate, Bangalore: located in central region of south India, haspate is only a five hour drive north to Bangalore. It regarded as iron and steel manufactured centre. This location draws significant investment and will continue to increase manufacturing strength.
    • Manesar, Haryana: it is well connected with train and highways make it an ideal location for vehicle manufacturing.
    • Nasik, Maharashtra: located to north east state of Mumbai. Nasik is popular tourist destination/.

    Thus, various initiatives taken by the government of India has started giving its fruits and more and more Indian and foreign companies have shown interests in setting up manufacturing plants in India.

    This trend will continue to be increasing in coming years and India will attract lot of foreign direct investments and will also witness more and more foreign company registration in India.

    In case you have any queries or require any clarification, please contact @ +919899217778 or visit our website www.ezybizindia.in