Invest India acts as a point of reference for potential investors and facilitates investments for initiatives such as Make in India and Startup India. Set up in 2009 as a non-profit venture under the then Department of Industrial Policy and Promotion, it provides end-to-end support and is a one-stop solution for both domestic and foreign investors. Acting as a bridge between investors and the government, 51% of Invest India’s shares are held by industry associations (17% each by Ficci, CII and Nasscom) and the remaining 49% is with the Centre and state governments. It has facilitated projects such as an apparel manufacturing facility by Singapore’s Ramatex in Tamil Nadu and a copper tube manufacturing facility by Malaysia’s Mettube in Gujarat. In fact, over the last fiscal alone, Invest India has facilitated the entry of investors with plans to invest upwards of $1.27 billion.
Nivruti Rai, MD & CEO of Invest India, knows how India Inc. works and what investors want. Rai, 56, worked for 29 years at Intel, of which she spent seven years as Intel India Country Head. It has been a year for Rai at the helm at Invest India and she has used that time to understand how investors view India, and she has taken measures to address their concerns.
In an interview with Business Today’s Surabhi, she speaks about the PLI scheme and why it’s important to boost manufacturing, India’s semiconductor manufacturing plans, and the future of AI. Edited excerpts:
Q: It has been a year since you took over. How has the journey been? What are your priorities?
This story is from the August 04, 2024 edition of Business Today India.
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This story is from the August 04, 2024 edition of Business Today India.
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