Prime Minister Narendra Modi at the inaugural programme of Make in India in Mumbai. (Agence France Presse Photo)
Make in India Week - a glitzy, week-long programme to showcase India as a preferred manufacturing destination was launched in Mumbai this evening by Prime Minister Narendra Modi. In the uncertain worldwide economic environment, the Prime Minister said India was the right place to invest.
Here are 10 things that you need to know about Make in India Week:
PM Modi said, "We want to present to the world the enormous opportunities that India presents... This is the best time to be in India, even better to 'Make in India'."
"FDI inflow has been up 48 per cent since my government came into office. FDI inflow in December 2015 was highest-ever in the country... we want manufacturing to be 25% Of our GDP," he added.
Government delegations from 49 nations and business delegations from 68 are taking part in the week-long event.
This morning, PM Modi opened the 'Make in India' Centre at Mumbai's Bandra Kurla complex, where an expo showcasing India's manufacturing capacities is on.
Seventeen state exhibitions and several country pavilions have been built at the 20,000 sq m centre. The country pavilions include exhibitions from Sweden, Germany and South Korea.
PM Modi started his Mumbai visit today by inaugurating a new building of the Bombay Art Society. "The A in Art stands for Ageless, R is Race, Region or Religion less and T is Timeless," he said in his address.
Make in India is the government's flagship initiative, launched by PM Modi last year in September, to encourage international companies to manufacture their goods in India. After its launch last year, India surpassed China and the US as the top destination for Foreign Direct Investment.
The Make in India week, in the Prime Minister's own words, "celebrates the achievements of the manufacturing sector and offers insights into the investment opportunities in India."
The Prime Minister is expected to hold bilateral meetings with the visiting foreign leaders during the week. Over 9,000 delegates are expected to participate in different events.
The week is also likely to see its share of politics, with the BJP's ally the Shiv Sena saying on Friday that its chief Uddhav Thackeray has not been invited for a dinner on Saturday Mr Modi is presiding over.
