Page 29 - NIS English 01-15 November, 2024

Kautilya Economic Conclave Nation

MORE THAN 200 STARTUPS HAVE BEEN
STARTED IN THE SPACE SECTOR

n 20 percent of India's total defense
manufacturing contribution is now coming
from private defense companies.

n Currently, more than 33 crore mobile phones
are being manufactured in the country.
n An investment of Rs 1.5 lakh crore is being
made in the India Semiconductor Mission.
n India's 5 semiconductor plants will soon start
delivering Made in India chips to every corner
of the world.
n In less than a decade, India's ranking in the India has made the process
Global Innovation Index ranking improved from
of reforms a part of the
81st to 39th.
government's continuous
TARGET OF PRODUCING 50 LAKH activities. We have eliminated
more than 40 thousand
TONNES OF GREEN HYDROGEN compliances, and decriminalized

the Companies Act."
The Government of India has set a target of
producing 50 lakh tonnes of green hydrogen - Narendra Modi, Prime Minister
by the end of this decade. India is committed
to increasing solar power generation at the
micro level. PM Surya Ghar Muft Bijli Yojana is a
government-funded rooftop solar initiative. More come out of poverty in the last decade. With India's
than 1 crore 30 lakh families are registered in it. rapid progress, the government is also ensuring
This scheme is making every family a solar energy
producer. This is expected to save an average of Rs that inequality is reduced and the benefits of
development reach everyone.
25,000 per family. It is estimated that every three
kilowatts of solar energy produced will also help India's economy performed better than every
prediction of the World Bank, IMF and Moody's last
prevent 50-60 tonnes of carbon dioxide emissions.
Not only this, it will create a large force of skilled year. All these institutions are saying that despite
youth. About 17 lakh jobs will be created and new global uncertainty, India will continue to grow
investment opportunities will also be created.
at a rate of more than seven percent. Today the
world is considering India as a favorite country for
investment. This is not a mere coincidence but the
result of major reforms done in the last 10 years.
India's banking reforms have not only strengthened
the financial position of banks but also increased
their lending capacity. India has opened many
sectors like mining, defense, space for private
companies and young entrepreneurs of India. The
government has liberalized the FDI policy in order
to ensure ample opportunities for global investors.
The Central Government has eliminated more than
40 thousand compliances and decriminalised the
Companies Act.

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