- He added that the government has seen interest from global majors like Apple, Samsung and their contract manufacturers to scale up production in India
- He added that talent in India, ability to innovate, and demographic dividend of the country have enough potential to make India get propelled as the top manufacturing destination of the world
Communications and IT Minister Ravi Shankar Prasad said that scaling up of electronic manufacturing in the country can alone contribute $1 trillion to the economy. He added that the government has seen interest from global majors like Apple, Samsung and their contract manufacturers to scale up production in India.
Prasad said at the Assocham event that he does not have slightest doubt that by proper scaling of electronic manufacturing alone, they will be able to contribute $1 trillion to the country’s kitty and that is what they are sure to succeed. The government has set a target for the country to become a $5-trillion economy by 2025.
India must become a big global centre of mobile phone manufacturing
Prasad added that by 2025, we will manufacture 1 billion phones, 50 million TVs and 50 million hardware devices, including laptops and tablets. India has a huge potential for PCBs (printed circuit board), laptops for IoT devices. Whole idea is that India must become a big global centre of mobile phone manufacturing.
He added that talent in India, ability to innovate, and demographic dividend of the country have enough potential to make India get propelled as the top manufacturing destination of the world. He also said that the production-linked incentive scheme floated by the government attracted global majors, with promise to make mobile phones worth about Rs 10 lakh crore, out of which devices worth Rs 7 lakh crore will be exported.
Government cleared 16 proposals from domestic and international companies
In October, the government cleared 16 proposals from domestic and international companies entailing an investment of Rs 11,000 crore under the PLI scheme to manufacture mobile phones worth Rs 10.5 lakh crore in the next five years. Domestic companies whose proposals have been approved are Lava, Bhagwati (Micromax), Padget Electronics (Dixon Technologies), UTL Neolyncs and Optiemus. It expects that the approved projects will generate over 2 lakh direct jobs and nearly six lakh indirect employment opportunities.