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India's Ambitious FDI Target: $100 Billion Annually

The Indian government has set an ambitious goal to attract $100 billion in annual foreign direct investment (FDI) under its "Make in India" initiative. This target was announced by Amardeep Singh Bhatia, Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), during a press conference marking the 10-year milestone of the program.

• Currently, India receives between $70-$80 billion in FDI inflows each year.
• Bhatia is confident that this figure will reach at least $100 billion annually in the coming years.
• This ambitious target aligns with the government's focus on strengthening domestic manufacturing and infrastructure development.

"Make in India" Initiative: A Decade of Progress

The "Make in India" initiative, launched a decade ago, has played a crucial role in enhancing India's manufacturing capabilities, particularly in sectors like defense and exports. The initiative has attracted significant foreign investment, with India receiving $667.4 billion in foreign investments over the past ten years.

• This figure represents a substantial increase from the $304.1 billion recorded in the previous decade (2004-2014).
• FDI inflows into manufacturing alone have surged by 69 percent in the last decade, reaching $165 billion.

India's Mobile Phone Manufacturing Boom

Prime Minister Narendra Modi has highlighted the success of the "Make in India" initiative, noting how India has become the world's second-largest mobile phone manufacturer. This transformation is evident in the significant growth of the mobile phone manufacturing sector in India.

• In 2014, India had only two mobile manufacturing units.
• Today, the country boasts over 200 mobile manufacturing units.
• Mobile exports have soared from INR 1,556 crore to INR 1.2 trillion - a remarkable 7,500 percent increase.

India's Semiconductor Industry: A Rising Star

India's semiconductor industry is experiencing phenomenal growth, with investments exceeding INR 1.5 trillion. Five semiconductor plants, capable of producing over 7 crore chips per day, have been approved.

• Semiconductor companies in India are collaborating with academic institutions to address the skills gap in this sector.
• The demand for talent in the semiconductor industry is expected to reach $80.3 billion by 2028.

Semiconductor Industry: Facing a Talent Shortage

Despite the rapid growth, the semiconductor industry in India faces a significant shortage of skilled professionals.

• A report by TeamLease Degree Apprenticeship estimates a shortage of 250,000 to 300,000 professionals across various verticals by 2027.
• These verticals include research and development (R&D), manufacturing, design, and advanced packaging.