Leaders from European countries, Gulf nations to participate in Make in India week

NEW DELHI: Some Heads of governments from technologically advanced-European countries and resource-rich Gulf nations are expected to participate at the mega week-long Make in India week in Mumbai from February 13-18, hoping to identify sectors for investments, which will contribute to the local economy.

While the list of political leaders attending the show has not been formally announced, it is expected that certain heads of governments from Europe and Gulf, besides financial, trade and investment ministers from Southeast Asia and East Asia are expected to attend the event that will be inaugurated by Prime Minister Narendra Modi. An authoritative source said that the final list of foreign leaders for the meet is being firmed up, but didn’t give further details.

The Modi government expects participation of over a 1,000 companies and delegates from over 60 countries for the PM’s flagship initiative. The theme of the event will be innovation, design and sustainability.

According to the Department of Industrial Policy and Promotion (DIPP), after the launch of 'Make in India' initiative, FDI in the past 17 months (between June 2014 and December 2015) as compared to the previous 17 months has grown by about 35%. India has received investments in areas which include electronics, automotive, food processing, textiles and garments, renewable energy and construction, according to DIPP.

The Make in India week wants to focus on 11 key sectors that will play a major role in the manufacturing sector in future -- Aerospace & Defence; Automobiles & Automobile Components; Chemicals & Petrochemicals; Construction Equipment, Materials & Technology; Food Processing; Infrastructure Development; IT & Electronics; Industrial Equipment & Machinery; Micro, Small & Medium Enterprises; Pharmaceuticals and Textiles.