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Make In India
Prime Minister Narendra Modi is meeting CEOs of top domestic and international companies in New Delhi on 25 September to advance his ‘Come, make in India’ Independence Day speech to foreign manufacturers—a call he is expected to reaffirm on his upcoming visit to the US. Since taking office in May, the Modi government has laid much emphasis on manufacturing, whose share of economic output has stagnated for decades at around 15%, to create the millions of jobs needed to lift India out of poverty and reduce its dependence on imports. That’s not easy, given India’s reputation as one of the world’s toughest places to do business in, given its record of policy flip-flops, bureaucratic intransigence, deficient infrastructure and a recent phenomenon that critics have termed ‘tax terrorism’, among other factors. On the occasion of the PM’s meeting with global CEOs, Mint takes a look at the kind of hurdles overseas manufacturers face in the country and, in the first part of a series of corporate profiles, features two foreign manufacturers that have overcome such barriers and scripted an unlikely success story, not only selling in the domestic market but also shipping their products abroad.
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Business NewsSpecialsMake In India
First Published:25 Sep 2014, 02:14 AM IST
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