India Taking Baby Steps To Become The Next Manufacturing Hub
Prime Minister Narendra Modi’s ambitious ‘Make In India’ initiative had started attracting investment worth crore across automotive engineering and electronic products. Initially, domestic handset manufacturers were not so keen about this programme, but recent media reports share a different story.
Reports suggest that many organizations are considering shifting their manufacturing base, from China to
Who’s taken the lead?
A media report suggests that
Intex is not the only company to hear Modi’s clarion call to ‘Make In India’. An Economic Times report reveals that Lava will set-up its manufacturing plant in India in the next three years. For this, the mobile phone manufacturer has earmarked an investment of Rs 500 crore. To begin with, the company will initially
“We are just about to finalize six places in three states to accommodate the entire ecosystem around handset manufacturing, one of which will house the company’s plant as well. The central government is giving 25% subsidy and various state governments are offering VAT-free operations, among others,” Hari Om Rai, chairman and managing director of
Since April 2014,
‘Make In India’ also a hit with international manufacturers
Other than domestic handset manufacturers, global mobile phone makers are also considering to take a lead and start manufacturing their phones in India. A
The company has hired legal advisers to "investigate the regulatory aspects of manufacturing in India. We always thought that our manufacturing would be based out of China. But India is beginning to become so important for us that we started to think whether we should set up our own manufacturing," Manu Jain,
Some domestic players still offering resistance
Smartphone vendors, like
While this is true to some extent, one can’t deny infinite untapped potential that exists in India. If planned well and executed brilliantly, there’s no denying that India would replace China as the biggest