The Make in India initiative launched by Prime Minister, Narendra Modi has started showing fruitful results.
Twinstar Display Technologies is set to invest USD 10 billion in India to open up the country’s first LCD manufacturing unit in Maharashtra. NRI Anil Agarwal announced about the huge Investment.
Bureaucracy Today reported, “Upon the commencement of the first week of Make In India week in Mumbai, the pact was inked as a part of the governments’ initiative on Saturday.”The firm will invest the amount in five phases to set the largest LCD fab units. Twinstar Display Technologies promoted by Volcan investment, Vedanta group and Sterlite Technologies will sign a MoU with Government of Maharashtra.
This investment will create more than 30000 job opportunities when the project will be succeeded completely. The production will start by 2018 and also adds up a growth of 7 to 10 per cent in GPD of Maharashtra.
Make In India has encouraged Indian diaspora living anywhere in the world to invest in their country of their own origin. This investment is the prime example of the trend. The Indian diaspora is contributing a lot to the economies the countries where they are living, for example, the USA. According to a report, Indian diaspora’s contribution to the US economy is largest among all the diasporas.