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Make in India Vision Propels Manufacturing Sector To New Heights; Now, Boeing To Invest Billions of Dollars In India

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Boeing Make in India

Manufacturing sector has been witnessing negative growth in India, but things are slowly but gradually changing for good.

PM Modi’s Make in India initiative is actually propelling this struggling sector, as the growth curve is now pointing towards a new beginning.

In the month of January, Indian manufacturing sector achieved a 4-month high, which was going down steadily since last one year. Nikkei India Manufacturing Purchasing Managers’ Index (PMI) posted a reading for 5.1 for the month of January, which indicates that the sector is expanding.

In fact, the data pertaining to incoming new export business has risen to 28 month high, which is a big positive indicator for the industry.

After several International corporations pledged to start their manufacturing units in India, the sector is now witnessing a spurt of growth in all types of goods.

The biggest jump has been witnessed in consumer goods, as both output and new orders increased. This can be the result of new manufacturing units kicked off by leading phone manufacturers such as Samsung, Foxconn, LG, Motorola, Lenovo and others. Besides, conglomerates such as Ford, SoftBank, Toyota and other heavy investors are planning to launch their own manufacturing units very soon.

Production of intermediate goods also witnessed substantial growth in January; however, investment goods witnessed slight bump in production.

Last month, India exported 450 metro coaches to Australia, which were ‘Make in India’. The first shipment left Mumbai port on January 29th, which were manufactured at Baroda, Gujarat.

Stronger manufacturing index directly impacts the performance of stock market, which in turn will observe the trends closely.

Boeing To Manufacture Fighter Jets in India

Meanwhile, reports have emerged that Boeing may invest ‘billions of dollars’ in India under Make in India campaign. They are all set to manufacture their 5th generation of fighter jets: Super Hornets inside India.

Dennis Muilenburg, president and CEO of The Boeing Company said, “We (Boeing and Lockheed Martin) jointly develop the F22 Raptor. Subject to all government-to-government agreements, that is an area of future investment for which we are interested in,”

F/A-18 Super Hornet from Boeing is a twin-engine, supersonic, jet fighter designed to fly under all weather with multirole control features which is capable of landing and taking off from an aircraft carrier.

Talks are on with Government officials, and something concrete may come out soon.

Muilenburg said, “I would not say there is an official offer. This is a conversation we are having with interested parties right now,”

Here are major highlights of Make in India vision:

1. Samsung to invest upto $1 billion in Uttar Pradesh; Sony will start manufacturing as well

2. Ford will open Rs 6000 crore factory in India

3. Foxconn, SoftBank and Bharti to invest $20 billion in Solar Energy

4. Foxconn will create 10 lakh jobs in India and manufacture iPhone

5. Huawei gets permission to start manufacturing

6. LG announced Rs 1000 crore investment for domestic manufacturing

7. Hero Group to manufacture electronics products in India

8. Microsoft and Motorola will start local manufacturing

9. Gionee will kickstart local manufacturing of their phones

10. Lenovo will manufacture smartphones in India

11. Airtel will make Make in India set-top boxes

12. Japan to establish 11 industrial townships & double their investment

13. Rs 4.5 Lakh Crore investments pledged during Digital India week

14. Lava to invest Rs 2615 crore in India

15. Foxconn commits investment of Rs 31000 crore in Maharashtra

16. Xiaomi to start manufacturing at Sri City

17. Phicomm to invest Rs 6300 crore in India

18. ICICI Bank launches robotic locker made under Make in India

19. Toyota to invest Rs 1000 crore

20. Ericsson to start their 2nd unit

21. Oppo will start manufacturing in India

22. Sony Will Manufacture Xperia Phones in India

23. Aricent Will Invest $500 Million

24. Dell May Invest in Smart Cities

25. Siemens will invest €1 billion and create 4000 jobs

26. Gionee Partners With Foxconn and Dixon for local manufacturing

27. Make in India OS: BOSS

28. Asus Pledges Alliance With Make in India

29. Gionee launches their first Make in India smartphone

30. Make in India research project initiated; annual corpus of Rs 250 crore provided

31. Boeing To Invest Billions of Dollars in India; Manufacturing Sector Expands

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  1. […] Modi’s grand vision of enabling more and more ‘Make in India’ products have found negligible effect during Holi, as the market is flooded with cheap Chinese products, and […]

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