The Prime Minister-led policy of Make in India, where foreign investors were encouraged to set up manufacturing units with utmost ease and approval processes has bear great fruits as they have been able to beat IT sector in the race for office leasing. The property consultant, Knight Frank India have released reports which perfectly shows that the IT/ITeS’s dominance in office spaces of India has been overshadowed by the foreign manufacturers. They also said that changes are also seen in housing trends as people are now looking for ready-to-move-in projects.
The manufacturing sector of India has gain 2-fold jump in the first of this year.In Delhi NCR, companies such as Oppo in Noida, Samsung and Honeywell in Gurgaon have contributed highly in this sector. In Mumbai also, a high rise jump of 95% was seen in companies related to chemical and pharmaceutical. Their offices are mainly occupied in Andheri-Kurla, Bandra Kurla Complex and Powai. Same is observed in Chennai where gain is seen in service sector in the last 18 months where companies such as Renault-Nissan and Ford have acquired big market.
Moreover, the housing and commercial sector of Delhi-NCR, especially in Greater Noida has witnessed growth in Rs.50 lakhs houses in foreign manufacturers respectively. This one shows that the government initiatives are working pretty well as the results are overwhelmingly positive. This has also made sure that government policies such as Make in India, Start-Up India and many more are very productive provided they are implemented affectively.