US$ 21 billion investment by Indian high tech
According to the US-India Strategic and Partnership Forum (USISPF), Indian high tech has the potential to attract an investment of a whopping US$ 21 billion and generate millions of jobs. The top US business advocacy group’s recent report “Hi-tech Manufacturing in India” states, “Industry looks forward to working with the government to make India a world-class manufacturing hub that can strengthen domestic manufacturing as well as support India’s export sector to create the much-needed jobs for Indians”.
The report identified some of the major challenges faced by the sector including the need for a strong supplier ecosystem, reduction in logistics cost, enhance skilled workforce, and enabling regulatory policies. Among other things, it recommends consistency in policies and expediting of approval processes.