The ELCINA Investor’s Manual 2017 was recently unveiled at New Delhi in the presence of Chief Guest Shri Kiren Rijiju, Hon. Minister of State for Home Affairs, Government of India and Guests of Honour – Dr. Ajay Kumar, IAS, Additional Secretary, Ministry of Electronics and Information Technology (MeitY), Govt. of India and Shri Yaduvendra Mathur, IAS, Additional Secretary, Niti Aayog, Govt. of India. This manual aims to answer most of the questions an Investor may have before considering investing in the Electronics business in India.
“It is our mission at ELCINA to promote investments in value-added Electronics manufacturing in emerging sectors such as consumer electronics, automotive electronics, medical electronics and strategic electronics. Therefore, it was felt that compiling a ‘Handbook on Investments’ is ideal at this stage, as there is considerable interest from many international firms and agencies looking to invest in India,” said Mr. Rajoo Goel, Secretary General, ELCINA.
It is notable that Mr. Jim Yong Kim, President, World Bank had in October 2017 said that the Goods and Services Tax (GST) has the potential for a hugely positive impact on the Indian economy. Following this in November 2017, Ms. Kristalina Georgieva, Chief Executive Officer, World Bank said at an event in New Delhi that the government’s push to reform the economy will help India become an upper middle-income economy by 2047, when it will celebrate the centenary of its independence.
Similarly, on 16th November 2017, Moody’s Investors Service (“Moody’s”) upgraded the Government of India’s local and foreign currency issuer ratings to Baa2 from Baa3 and changed the outlook on the rating to stable from positive.
As per Moody’s press release, “The decision to upgrade the ratings is underpinned by Moody’s expectation that continued progress on economic and institutional reforms will, over time, enhance India’s high growth potential and its large and stable financing base for government debt, and will likely contribute to a gradual decline in the general government debt burden over the medium term.”
Source : ELCINA
