Hailing the Government's initiative to boost manufacturing and investment through 'Make in India' campaign, consumer durable maker Panasonic is now expectingBudget to emphasis on 'Make in India' campaign to further formalize it.
"One of the major policy initiatives of the Government since assuming office has been 'Make in India' campaign which is designed to facilitate investment, foster innovation and enhance skill development in country. We are expecting that the Budget will emphasis on this policy to further formalize it," Panasonic India & South Asia Managing Director Manish Sharma told The Pioneer.
'Make in India' is an international marketing strategy, conceptualized by the Prime Minister of India, Narendra Modi on 25 September 2014 to attract investments from businesses around the world, and in the process, strengthen India's manufacturing sector.
"The new Government is conducive to industrial growth and considering the recent developments with initiatives such as Make in India has been able to extend the investment avenues, re-instill faith in industrialists for re-shaping the Indian business infrastructure and given a boost for developing India, adding that A blue print on the policy will further enhance manufacturing set-ups and will invite new technologies/investments into India" Sharma replied when asked about the blue print on this policy.
On investment he said "Panasonic has already invested Rs1,700 crores in its Jhajjar plant in Haryana to cater to customer needs across categories, The company believes that localisation is one of the major ways to help a country grow, and hence, Panasonic acquired Anchor, an Indian company which also manufactures all its product in India.