More than 15,000 companies have registered to set up units in India, these will provide employment
In the month of June, more than 15,000 companies have registered to setup their units in India. It also includes many foreign companies, which manufacture a large number of machines used in infrastructure. This information has been received from data compiled by the Ministry of Corporate Affairs.
Senior officials said that due to huge investment by the government in highway, port and railway projects, demand for big machines is being seen. Also told that it also shows the success of India’s Make-in-India and Self-reliant India campaign, due to which foreign companies want to start their operations in India. Experts say that with the arrival of new companies a large number of youth will get employment.
These foreign companies entered India
UK company Auger Torque Europe Ltd, one of the foreign companies that has registered to start operations in India, makes earth drills and attachments and is part of Germany’s Kinshofer Group which manufactures truck cranes and excavators. Makes attachments. Japan’s Tomo Engineering Company Limited is also included in this list, which does machinery and chemical manufacturing.
Increased emphasis in infrastructure sector
Another Japanese company Kawada Industries, which is part of the KTI Kawada Group, is also included in the list. This company works to create and maintain infrastructure. A Russian heavy machinery manufacturing company and UAE’s Energy Group have also registered to start operations in India. The senior official said that these companies will bring new technology to India. It will complement Indian companies working in the infrastructure sector.
Demand for steel and cement increased
Due to investment in big infrastructure projects by the Government of India, the demand for steel and cement is going up, which is increasing private investment and providing more employment opportunities to the people. In the budget for 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 for February 2024, the capital expenditure target for infrastructure projects was increased by 11.1 per cent to Rs 11.11 lakh crore. This will support the development of the country and the growth rate will also increase.
