Make in India initiative propels India forward

India's incredible progress with the Make in India initiative demonstrates its steadfast dedication to becoming a manufacturing and innovation powerhouse on a global scale Launched in 2014, this transformative initiative has propelled India forward, attracting international attention and investment while fostering domestic entrepreneurship and technological advancements This programme has been a driving force behind India's economic growth and sustainable development by boosting indigenous manufacturing, fostering foreign direct investment (FDI), and fostering an investor-friendly business climate

The Indian government has diligently worked toward enhancing the ease of doing business, streamlining regulatory processes, and building infrastructure across multiple industries which has enabled businesses to thrive and create employment opportunities to meet the demands of a dynamic manufacturing landscape

India has fostered innovation, research, and development, effectively aligning with global economic trends and environmental sustainability goals In a major push for the 'Make in India' programme of the Union government, Indian armed forces are all set to procure 97 new highly capable drones under a joint acquisition plan In another milestone, India launched Chandrayaan-3, third moon mission from Sriharikota To ensure the mission success, ISRO has collaborated with several manufacturing companies under ‘Make in India’ scheme to construct the rover, lander and launch vehicles

The Make in India campaign's international outreach has been instrumental in projecting India as a prime investment destination on the global stage Collaborative efforts with countries and businesses worldwide have enhanced India's economic ties and facilitated technology transfers As one of its suppliers, Foxconn, recently proposed to set up a £880 million supplemental facility in Karnataka, Apple's recent plans to increase its production

Political Sketchbook

Alpesh Patel

Churchill

The (Indian) Women Who Increasingly Rule the World

In the grand tap estry of global finance, a vibrant thread has emerged, weaving a tale of emp owerment, resilience, and sheer brilliance It s the tale of India, a burgeo ning ec onomic p owerho use, and the fo rmidable wo men who are steering its i n a n c e M i n i s t e r s a n d C e n t r a l Bankers meeting in Gujarat, India, was a testament to this narrative Among the distinguished attendees were two women of Indian origin who have etched their names in the annals of global finance - India's Finance Minister, Nirmala Sitharaman, and her counterpart at the International Monetary Fund (IMF), Gita Gopinath Sitharaman, the first woman to hold the finance portfolio full-time in India, has been instrumental in shaping India's economic policy, steering it through the choppy waters of the pandemic On the other hand, Gopinath, as the first woman Chief Economist of the IMF, has been a b e a c o n o f w i s d o m , g u i d i n g g l o b a l e c o n o m i c p o l i c y through her incisive analysis and forecasts

These women, in their respective roles, influence the fate of billions Their decisions ripple through the global economy, affecting everything from the price of a loaf of bread in Bangalore to the interest rates on a mortgage in Melbourne

Their rise to these positions of power is not just a testament to their individual brilliance but also a reflection of the changing face of India and its growing clout in global finance It's a story of a nation that is increasingly embracing the potential of its women, recognizing that the path to economic prosperity is paved with gender equality

However, this journey is not without its challenges

Women in finance, like in many other sectors, face a myriad of obstacles - from gender bias and stereotypes to the lack of equal opportunities and representation These challenges are not unique to India but are a global phenomenon that needs to be addressed capabilities in India may receive a boost US and India signed defence deals during PM Modi visit to US, General Electric (GE) has signed an agreement with India’s stateowned Hindustan Aeronautics Ltd (HAL) to jointly make engines in India to power fighter jets for the Indian Air Force

A t t h e G 2 0 c o n f e r e n c e , I M F M a n a g i n g D i r e c t o r Kristalina Georgieva stated that the global economy has shown some resilience Despite successive shocks in recent years and the rapid rise in interest rates, global growth although anemic by historical standards remains firmly in positive territory, supported by strong labor markets and robust demand for services Meanwhile, Georgieva maintained that India is a "bright spot" in the global economy

I n d i a h a s s i g n e d a n M o U w i t h L i q u i d G r o u p , a Singapore-based fintech company, to launch UPI payments across 10 Asian markets - Malaysia, Singapore, Thailand, Philippines, Vietnam, Cambodia, Hong Kong, Taiwan, Republic of Korea and Japan Indian Institutes of Technology (IIT) and Indian Institutes of Management (IIM) are prestigious educational institutions, known for producing some of the brightest and skilled professionals in the fields of engineering, technology, and management IIMs who have played a vital role in driving India's economic growth and development Schemes under ‘Made in India’ such as skill India, digital India, startup India can witness a surge in entrepreneurship and innovation With a large population of young and ambitious minds who contributed to the success of startups, established successful enterprises, and occupied influential positions in multinational corporations IIT campuses are now opening in foreign countries and mark a significant milestone in India's journey towards global educational leadership It enhances India s reputation as a knowledge powerhouse and fosters collaborations with leading academic institutions worldwide Recently, the first IIT was set up in Tanzania

In the UK Parliament, we are hosting an event to shed light on these issues, to discuss the challenges faced by women in business, and to chart a path forward We believe that the stories of Sitharaman and Gopinath can serve as an inspiration, a beacon of what is possible when women are given the opportunity to shine I am co-hosting this as Chair of the City Hindus Network and as President of the India League (www theindialeague org) with our friends without whom the event could not take place – City Sikhs Network

In conclusion, the importance of India and women in finance cannot be overstated As we move forward, it is imperative that we continue to champion gender equality, to break down the barriers that hold women back, and t o c e l e b r a t e t h e a c h i e v e m e n t s o f t r a i l b l a z e r s l i k e Sitharaman and Gopinath After all, a nation's true wealth lies not in its coffers but in the potential of its people, and it's high time we realized the untapped potential of our women

So, let's raise a toast to the women in finance, to the women who are breaking the glass ceiling, one financial report at a time Here's to a future where the face of finance is not just a man in a suit, but also a woman in a saree or a hijab or a business suit Here's to a future where the fate of billions is not just decided by men in boardrooms, but also by women who bring their unique perspectives and insights to the table