Er. Rajesh Pathak
Like steel, energy and minerals, now semi-conductor also has gained the status of the primary industry, without which many sectors would not be able to function . After Micron Technology ofAmerica , Japan will also invest 5 trillion Yen in the manufacturing units of semi-conductor chips in India. Semiconductor design- their manufacturing- equipment research- talent development – bringing resilience to semiconductor supply chain : on this five level the work-plan will move forward in the process.
Likewise, Germany is also going to join those who are looking India as an attractive investment destination. Ukraine-Russia war taught a lesson particularly to European countries that to be depended upon any one country for the needs of petrol or for anything else is no wise move. Therefore Germany is beginning to think to come closer to India, without decoupling from China of course. And so was expressed by Vice-Chancellor of Germany, Robert Habeck, who came to join the meeting of G-20 with his labour minister, Hubertus Hell. This business-bonhomie would go to yield employment opportunities to India, either. Latest to come in the trail is the Indian nurses is reported to be provided job in Germany soon. One more reason is there that served as a catalyst behind the deal . And that is, the worldwide speculation of India to be 4theconomic power in the future, leaving Germany behind, thus bringing plenty of opportunities in economic field subsequently. Today Germany is facing acute shortage of skilled work-force. So much so that 1.74 million posts are lying vacant there. India enjoys the advantage of having biggest young population in the world, Germany also knows that. However, last month only a defence deal has been signed between Germany-India under which 6 submarines will be built.
This is the story of today. Last year in 2022 India got as high as 49 billion dollars, which is 8th biggest investment in the world. Increasing proficiency in the technical-skill and hike in purchasing power; more than 100 unicorns, with thousands of start-ups; the allocation of 1.97 lakh crores to 14 industrial sectors ; abolition of 1500 out-dated rules, and 40,000 so-called regulations so far prevailed to serve more the pockets of bureaucracy; reformation in GST and bankruptcy code; many provisions of laws being kept out of the category of criminal offences- all this business friendly steps taken by the Modi government consists in highly responsive FDI that flowed into our economy.
