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Doing business abroad
New Program Aims to Make India a Global Manufacturing Hub
Doing business in India may soon become easier, more efficient, and more transparent. The country’s government says Make In India, an aggressive new program announced in September 2014, will eliminate unnecessary regulations, shorten bureaucratic processes, upgrade infrastructure, and open new sectors to direct foreign investment.
The goal is to increase manufacturing in the country from 15 to 25 percent of gross domestic product and create 100 million additional jobs by 2022.
“Government officials are offering to cut the red tape and roll out the red carpet to attract global investment in the economy of India,” says Jennifer Leary, a principal in global services for CliftonLarsonAllen. “We believe this signals the beginning of many exciting new opportunities for U.S. companies to reach new markets and grow in India.”