June month More than 15,000 companies have registered to set up their units in India. This includes many foreign companies as well, which manufacture a large number of machines used in infrastructure. This information has been received from the data compiled by the Ministry of Corporate Affairs.
Senior officials said that due to the large amount of investment by the government in highway, port and railway projects, there is a demand for big machines. Also, it was told that this also shows the success of India’s Make-in-India and Atmanirbhar Bharat Abhiyan, due to which foreign companies want to start their operations in India. Experts say that the arrival of new companies will provide employment to a large number of youth.
These foreign companies entered India
Among the foreign companies that have registered to set up operations in India are UK-based Auger Torque Europe Ltd, which manufactures earth drills and attachments, and Germany’s Kinshofer Group, which manufactures attachments for truck cranes and excavators. Japan’s Tomo Engineering Co Ltd, which manufactures machinery and chemicals, is also on the list.
Increased emphasis in infrastructure sector
Another Japanese company Kawada Industries, which is part of the KTI Kawada Group, is also included in this list. This company works in building and maintaining infrastructure. A Russian heavy machinery manufacturing company and an energy group from the UAE have also registered to start operations in India. The senior official said that these companies will bring new technology to India. They will complement the Indian companies working in the infrastructure sector.
Demand for steel and cement increased
The demand for steel and cement is going up due to investment in large infrastructure projects by the Government of India, which is increasing private investment and providing more employment opportunities to the people. In the budget for the financial year 2023-24, the government had increased the target of capital expenditure on infrastructure projects by 37.4 percent to Rs 10 lakh crore, which was Rs 7.28 lakh crore in 2022-23. In the interim budget of February 2024, the target of capital expenditure for infrastructure projects was increased by 11.1 percent to Rs 11.11 lakh crore. This will support the development of the country and will also increase the growth rate.
Input: IANS
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