'Make in India' Has The Potential To Reignite Growth: Cyrus Mistry

Tata group Chairman Cyrus Mistry has said that the Narendra Modi government's 'Make in India' campaign has the potential of “reigniting growth in the years to come."

"Amidst a complex and unpredictable geopolitical environment, we find that new opportunities have emerged, but equally, several challenges persist. In India, recent policy measure and strategic direction defined by the government, especially its ambitious 'Make in India' campaign, hold the promise of reigniting growth in the years to come," he said.

‘Make in India’ is a marketing campaign launched by Prime Minister Narendra Modi in order to attract investment and manufacturing in the country. The campaign aims to achieve job creation and promote economic growth. Recently, Modi gave his nod to an action plan to “create an enabling environment to do business in India” and give a boost to manufacturing.

Reflecting on the outgoing year, Mistry said, “Globally, major markets seem to be on two different growth tracks. Some countries, such as the US and the UK, continue to show signs of recovery and growth. On the other hand, the large economies of China and Europe fell short of growth expectations. This has led to a fall in global commodity markets, which offers both challenges and opportunities."