FDI equity inflow into textile sector has grown: Report -Governance Now

FDI equity inflow into textile sector has grown: Report

In 2015-16, 51 million people directly and 68 million people indirectly were employed in textile sector.

GN Bureau | November 25, 2016

#Make in India #FDI #employment #textile #automotive #telecommunication #skill development

India has shown considerable progress in the textile, automotive and telecommunication sectors, said Make in India campaign’s second achievement report that was released by the Ministry of Commerce and Industry on Friday.

The report highlights the progress in FDI inflow, job creation and skill development, and growth in manufacturing. Make in India was launched in 2014 to promote 25 key sectors for the growth of the economy.

Here are excerpts from the report:

Textile sector

*FDI equity inflow grew by 16% in FY 2015-16. Between March 2014 and March 2016, FDI added up to USD 427.55 million.

*In 2015 -16, the total exports increased to 15%, which was 13% in 2013-14. In 2016, the export was USD 38billion. It is estimated to reach USD 62 billion by 2021.

*In 2015-16, 51 million people directly and 68 million people indirectly were employed in this sector.

*5.3 lakh youth trained in last two years under the Integrated Skill Development Scheme (ISDS). More than 81% of persons trained have been placed including 79% of the trained women.

Automotive sector

*With an average production of around 24 million vehicles annually and employer of over 29 million people (direct and indirect employment), the automotive sector in India is one of the largest in the world.

*The Automobile Mission Plan 2016–2026 envisages creating India as one of the top three automobile manufacturing centres in the world with gross revenue of USD 300 billion by 2026.

*Production increased by 2 .6% in FY2015-16 with the industry producing a total 23,960,940 vehicles including passenger vehicles and commercial vehicles as against 23,358,047 vehicles produced in previous fiscal year.

*Sales of Passenger vehicles increased by 7.24%.

*Automotive Skill Development Council (ASDC) has trained a total of 1,21,662 people in FY 2014 – 15 and1,66,580inFY2015-16.

Telecommunication sector

*Rural tele-density reached over 51 % at the end of September, 2016. The net addition in total connections in rural areas during April 2014 to March 2016 was 69.99 million.

*The smartphone market in India grew from 149 million users in 2014 to 275 million users in 2016, outpacing U.S to occupy the number two spot in the global smartphone market.

*Number of mobile phone units manufactured in FY 2015 – 16 grew by 90 % To 110 million in FY 2015-16 from 60 million in FY 2014-15

*Telecom Sector Skill Council (TSSC) has empanelled 650 training partners across the country and trained 3.5 lakh persons so far in telecom training courses, which include 60,000 enrolled under the scheme of skill development in Electronic System Design & Manufacturing (ESDM).

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