'Make in India'
The Indian Government’s ‘Make in India’ campaign is perhaps the single biggest development in the new government’s policy making to date, bringing a new mind-set in government, changing focus to fostering investment, innovation, protecting intellectual property, and building best-in-class manufacturing infrastructure. India is a leading automotive manufacturer, with significant effort being placed on green technology. Defence and civil aviation is also an area of massive expansion. India increased foreign direct investment limits in defence to 49% and liberalised the licensing of private domestic firms to produce defence equipment to boost manufacturing in the sector. Even current offset arrangements should be seen as an opportunity for alliances by UK companies. Frugal and other innovative models will increasingly come to the fore.Latest Market Briefing