Why this is important to Wisconsin businesses: Wisconsin companies involved in trains, planes, and shipbuilding could find opportunities to share technologies and establish collaborations.
India will soon mark 10 years of the Make in India initiative—a program launched in 2014 to promote domestic manufacturing, attract foreign investment, and boost India as a global manufacturing hub.
The government targeted 25 sectors for particular attention, including automobiles, textiles, pharmaceuticals, electronics, defense manufacturing, renewable energy, and aerospace.
The program aims to showcase the country’s rich heritage, emphasize skill development, simplify trade regulations, and encourage research and development of advanced technologies.
India’s transportation systems are in line for major upgrades as part of the massive program.
Prime Minister Narendra Modi outlined a plan in March 2024 to transform the country’s railway system by 2030. It includes establishing the National High Speed Rail Corridor Limited’s bullet train and putting 4,500 Vande Bharat trains into operation by 2047. Vande Bharat trains, initiated in 2019, are a step toward high-speed rail. Currently, 82 of the trains are used on five routes, according to a report by India Today.
The government wants to upgrade more than 1,300 railway stations, establish dedicated freight and high-speed rail corridors, and increase the average speed of freight trains to 50 kilometers (31 miles) per hour.
India also is proposing incentives to boost its shipping industry, and it is adding airports and encouraging the manufacture of drones.
Make in India is designed to promote foreign investment in its manufacturing sector by streamlining business procedures and red tape, helping businesses navigate through regulatory requirements, strengthening protections on intellectual property rights, and encouraging collaborations with financial institutions. The government has also created Special Economic Zones that offer various benefits to manufacturers.
The Make in India initiative has had a significant impact on domestic manufacturing in India, according to Diversitech Global, an Asia-based tool manufacturing corporation. It has increased overall production capacity, created jobs, boosted skills, and spurred innovation and technology in the manufacturing sector, the company said.
Wisconsin businesses with products, services, and technologies in these sectors could find opportunities for collaborations in India.
