India gears up for $62 b investment |
Indian government and an investment promotion agency, Invest India, in talks with close to 300 companies - both Indian and foreign -to channelize investment of close to $62 billion (over Rs 4 lakh crore) that will also help create over 1.7 million jobs. Half of the proposed investment is from China of around $32 billion that will help cut the massive imports and generate employment in India. A news report said named a company Sany to invest nearly $10 billion in the wind power space and real estate and construction companies such as Dalian Wanda Group discussing with the Haryana government several realty projects close to $5 billion. SAIC, is in talks with GM to take over the Halol plant, Lifan Motors and Fosun Pharma. 70 projects are from largely middle-rung Indian companies. Over $3 billion investment has been tied up to create 300,000 jobs. Indian government Department of Industrial Policy and Promotion (DIPP) has identified an initial list of 150 companies for investments. Several multi national companies such as Cisco and H&M are being pursued to ensure that they expand India footprint. Given the slowdown in China, investors are increasingly looking to India to not just meet the domestic requirement but even cater to demand in the region, including South East Asia.
|
|
|
|