We are happy to announce our Make in India series where we will discuss the reasons for setting up manufacturing in India. We are happy to organize this series in partnership with the Indian Embassy, Swedish Chamber of Commerce and Invest India.
Setting up manufacturing in India could be as part of a local market strategy, or due to the Atmanirbhar Bharat (Self Reliant India program) but it will likely also be for the regional or other international markets. Indian economy will grow at over 8.2% according the the IMF for the coming fiscal year with several states coming in at an even higher growth rate.
Sweden-India Business Council has previously run two roundtable discussions on "setting up manufacturing in India". We now plan a series of 4 events to both show case good examples and highlight topics important for the manufacturing process.
Olsbergs is a family-owned industrial group in Sweden with long tradition in foundry, hydraulics and electronics and was founded already in 1906 starting with Olsbergs Gjuteri AB followed by Olsbergs Hydraulics AB in 1976 and latest Olsbergs Electronics in 1996. Just before the Covid-19 Epidemic, Olsbergs decided to set up a plant in Gujarat India, but instead of owning the plant in their own, they decided to support their partner in transferring the plant know-how to produce their products. This was in turn also done remotely given the Covid-19 pandemic. Sweden-India Business Council was actively advising Olsberg in the initial stages of their strategy.
India is one of the fastest-growing economies in the world. It has sustained a recent global downturn and also emerged as one of the leading nations in terms of GDP growth rate and FDI inflows. India has attracted a total FDI inflow of USD 31,1 Billion during April 2021 to September 2021 and has grown by 4% since April 2021 to September 2021.
Prime Minister Narendra Modi announced a special economic and comprehensive package of more than USD 270 Bn - equivalent to 10% of India's GDP, under the Atmanirbhar Bharat Abhiyan (Self-reliant India). Foreign Direct Investment (FDI) inflow and Foreign Portfolio Investment (FPI) inflows (net) in India are USD 81,9 Billion and USD 38,7 Billion respectively in FY 2020-21. Sectors such as Energy (24%), Roads (18%), Urban (17%) and Railways (12%) amount to around 71% of the projected infrastructure investments in India.
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Don't miss the next session in our Make in India series; Perstorps Make in India Journey on 24 August at 11.00-12.00 CET.
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