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Business News/ Politics / Policy/  Narendra Modi opens ‘Make In India’ centre in Mumbai
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Narendra Modi opens ‘Make In India’ centre in Mumbai

PM Modi is expected to meet senior leaders and captains of industry from both India and abroad

PM Modi will formally launch the ‘Make in India’ week on Saturday evening at an event at Worli, Mumbai. Photo: ReutersPremium
PM Modi will formally launch the ‘Make in India’ week on Saturday evening at an event at Worli, Mumbai. Photo: Reuters

Mumbai: Prime Minister Narendra Modi on Saturday inaugurated Make in India Centre at Bandra Kurla Complex, a commercial complex in the suburbs of Mumbai.

Modi will formally launch the “Make in India" week Saturday evening at an event at Worli, Mumbai.

The Make In India week will conclude on 18 February.

Make in India is the current government’s flagship initiative, launched by the prime minister in September 2014, to encourage international companies to manufacture their goods in India.

The prime minister is expected to meet senior leaders and captains of industry from both India and abroad.

He will hold bilateral meetings with senior foreign leaders.

Make in India Week will be the flagship event to provide greater momentum to the Make in India initiative, and to showcase to the world the achievements of the nation in the manufacturing sector.

“It shall promote India as a preferred manufacturing destination globally. Over the course of a week, it will offer access, insights and opportunities to connect and collaborate with India and global industry leaders, academicians, central and state administrations," a statement from Prime Minister’s Office said.

The Make In India Centre will feature an exhibition of the most innovative products and manufacturing processes that have been developed in India.

Make In India week is celebrating at a time when India’s factory output contracted for the second month in a row in December.

The Index of Industrial Production (IIP) shrank 1.3% in December led by manufacturing after Diwali shutdowns led to a 3.4% contraction in IIP in November.

The Reserve Bank of India (RBI), in its monetary policy review on 2 February, said the near-term outlook for industrial activity may be constrained by adverse base effects in the fourth quarter and still weak exports, although a pick-up in corporate profitability on the back of declining input costs may provide an offset.

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Published: 13 Feb 2016, 01:40 PM IST
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