[ad_1]
India became the second largest mobile manufacturing country in 2017.
India is now aiming to surpass China in mobile manufacturing with the production-linked incentive (PLI) scheme attracting global majors, Telecom and IT Minister Ravi Shankar Prasad said on December 14.
He said the government is looking to make India a hub of other electronic products as well with the expansion of the PLI scheme to other sectors.
“We wanted India to become the second largest mobile manufacturer in the world. Now, I am pushing India to surpass China. That’s my goal and I am very clearly defining it,” Mr. Prasad said at the annual general meeting of FICCI.
India became the second largest mobile manufacturing country in 2017.
The National Policy on Electronics 2019 (NPE) envisages electronic manufacturing turnover of more than ₹26 lakh crore by 2025, out of which ₹13 lakh crore is expected to come from the mobile phone segment.
PLI is designed to propel India’s stature and ease of doing business under the leadership of Prime Minister Narendra Modi to showcase India as an alternate manufacturing destination, Mr. Prasad said.
“PLI is designed to enable global champion companies to come to India and make Indian companies national champion,” he noted.
Under the PLI scheme, eligible companies can get sops of around ₹48,000 crore.
The government has cleared 16 proposals from domestic and international companies entailing investment of ₹11,000 crore under the PLI scheme to manufacture mobile phones worth ₹10.5 lakh crore over the next five years.
The companies include iPhone maker Apple’s contract manufacturers Foxconn Hon Hai, Wistron and Pegatron, apart from Samsung and Rising Star.
Domestic companies whose proposals have been approved include Lava, Bhagwati (Micromax), Padget Electronics (Dixon Technologies), UTL Neolyncs and Optiemus.
[ad_2]
Source link
