An e-boost worth Rs 90,000 crore for GoI’s Make in India

NEW DELHI, INDIA: The Government of India has received Rs 90,000 crore investment proposals in the last two months for electronics manufacturing.

Not surprising that the investors, both local and foreign have shown significant interest in manufacturing mobile phones.

About Rs 1.10 lakh crore worth of proposals have been received in the last 1 year from various companies for electronics manufacturing under the modified special incentive package scheme. Of this, over 80 percent have materialised in the last two months, according to a Firstpost report.

“About Rs 90,000 crore worth of proposals were received in the last two months. There is hardly any company, which has not shown interest to manufacture in India,” said Ajay Kumar, Additional Secretary, Ministry of telecommunications.

“There is significant interest in mobile phones. Now we are seeing a lot of players are coming in, both Indian companies and foreign ones. They are increasing their presence here,” Kumar said.
According to CyberMedia Research, 24.8 percent of smart phones sold in the country during the April-June quarter were made locally, up 19.9 percent from the preceding quarter.

It must also be noted that Xiaomi, Motorola and Lenovo have commenced assembling smart phones in the country through contract manufacturing by Foxconn and Flextronics respectively.