Inviting American companies to take advantage of the vast manufacturing opportunities in India, a senior government official has said that a major highlight of the 'Make in India' initiative is to use technology to leapfrog in terms of industrial growth.
Amitabh Kant, Secretary, Department of Industrial Policy and Promotion (DIPP), on Tuesday urged US industry to take advantage of the vast opportunities in the various sectors identified under 'Make in India' to enter India, make for the domestic market and also export.
India and the US "must partner on merit and innovation", Kant said addressing a meeting of American corporate leadership here organised by the Confederation of Indian Industry (CII).
The 'Make in India' initiative is a key goal of the government to create millions of jobs for India's aspirational youth, jump start the manufacturing economy, which currently contributes only 16 percent to India's GDP, he said.
Kant said e-Business platform, enhancing connectivity through industrial corridors, and the plan for 100 smart cities are all elements of a comprehensive plan to take India to a new level of economic growth.
Indian Ambassador to the US, S Jaishankar, in his keynote remarks applauded the "strength of purpose and seriousness of intent" of the new government in India.
He highlighted the new positivity in the US-India bilateral relationship.
Arun Kumar, US Assistant Secretary of Commerce for Global Markets and Director General of the US and Foreign Commercial Service, spoke of the various initiatives already undertaken by the US Department of Commerce to collaborate with the India with regard to the 'Make in India' initiative and to support American companies.
In particular, he reiterated the US' willingness to share best practices with India, through programmes like the Manufacturing Extension Partnership Network.
The event was attended by over 200 people from across the US and Indian private sectors, government agencies, academic institutions, think tanks and media.