THE INDIAN MANUFACTURING LANDSCAPE - Foreign Company Registration
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 realized 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
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