Ravi Shankar Prasad, Telecom and IT Minister of India has said that India has goals of becoming the biggest mobile manufacturing nation in the world. Currently, it is in the second position behind China and has been like that since 2017 now. As per a PTI report, India is looking to expand into mobile manufacturing segment along with other electronic products as well. He said this would be possible with the help of production-linked incentive (PLI) scheme introduced by the government which is attracting global smartphone manufacturers to come and set up their production in India — more on the story ahead.
India to Leave Behind China in Mobile Manufacturing
Prasad, in his statement at the Federation of Indian Chambers of Commerce and Industry (FICCI) annual general meeting (AGM), said that India is now pushing ahead of China for being the largest mobile manufacturing nation in the world.
It is expected that India will have an electronic manufacturing turnover of around Rs 26 lakh crore by the year 2025 as per the National Policy on Electronics. Out of this, Rs 13 lakh crore which is the half of it is expected to be contributed by the mobile phone industry alone.
Prasad said that the PLI scheme is made with a vision to attract and allow the biggest tech companies in the world to come to India and set up their manufacturing and production plants locally. Already multiple global tech giants such as Apple and Samsung have benefitted from the scheme.
In another report from Gizmochina, Samsung is looking to shift its display manufacturing plant from China to India. The cost of doing so for the company is expected to be around $655 million. The South Korean giant has plans to shift the facility from China to Uttar Pradesh (UP), India.
The Uttar Pradesh government will exempt the company from tax payable on the transfer of land for the factory. Samsung will be getting financial incentives of around Rs 7 billion for setting up the display facility in India. The exact time of this move is not yet clear, but it should take place next year. This move from Samsung will further boost the Make in India scheme of the government.