India’s target is to increase its annual FDI flows to $100 billion in the coming years, Amaradeep Singh Bhatia, Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), said on September 25.

“We are targetting much higher investment growth… very few sectors remain in the restricted category. We have continued to streamline processes,” Bhatia noted, highlighting that the ministry will likely cross last year’s target in FY25.

According to the ministry's data, FDI inflows in the first three months of the year, at $22.5 billion, were 26 percent higher than in the same period last year.

The secretary addressed the media on the 10 years of Make in India. Replying to queries that the manufacturing share of GDP has remained constant over the last decade, the secretary noted that it takes time to build momentum to get the ecosystem working.

“We have one of the lowest factory gate prices, and we are working to reduce logistics costs,” Bhatia noted.

“Foreign delegations are extremely gung-ho about investing in India, from UAE to EFTA. All these schemes will help us reach 25 percent of the GDP target for manufacturing by 2030,” the secretary further added.

The secretary highlighted the benefits of production-linked incentive schemes.

“We have taken initiatives to ease investment under Make in India. The focus has also been on technology alongside investment,” Bhatia said.

The secretary highlighted that there was no decision to extend PLI schemes.

“We are just focused on 14 sectors as of now. Critical technologies are on the radar, and we will continue to focus on them,” the secretary noted.

The PLI scheme has generated nearly 900,000 jobs and led to production/sales of Rs 1.4 lakh crore.