India surpasses Singapore, ranked World's No 1 investment destination
16-Feb-2016 :
We have been ranked No 1 investment destination by Financial Times, EY, IMF, Frost & Sullivan, Foreign Policy Magazine, Wharton & BAV Consulting, beating Singapore, Ireland, Indonesia, and Vietnam.
We have improved our position in ease of doing business by 12 ranks.
From being one of the most closed economies, India is now one of the most open economies of the world says Amitabh Kant, Secretary, Department of Industrial Policy and Promotion.
In the past one year 50 mobile-phone manufacturers have located in India.
Airbus, Boeing, Dailmer, IKEA, GE, HM, Foxxcon, JCB are here. Many companies like Volvo, Ford, Hyundai, JCB, Maruti, Cummins are now using India as a major export hub.
We need optimism & faith in ourselves, private companies Adani, Asian Paints, Birla, Bharti, Bharat Forge, ITC, L&T, Reliance, Tata, Thermax, Torrent are all investing.
In Defense 60% of the items have been de-licensed.
Far reaching changes are envisaged in defense procurement policy.
In the second year of make in india we will focus on domestic companies with a manufacturing thrust.
For startups we will help create best ecosystem in the world for our young entrepreneurs.