Delhi : Earlier the whole world used to see India from a different perspective. Actually, most of the countries of the world used to see India as a market earlier. Traders from outside countries used to bring their finished goods to India and sell them. But today the picture has reversed. India is playing the role of leading the world today. Yes, India today has become a fast growing economy country as a builder. We have got to see this charisma within a few years. Especially since 2014 during the central government formed under the leadership of PM Narendra Modi. Yes, in this period itself, the central government has made strenuous efforts to bring about this change.
invitation to invest in india
The central government invited all the big companies of the world to invest in India and invited "Ease of Doing Business". After this, many big companies invested in India, whose result is in front of us today. Today, India has become the second largest country in the world in "mobile manufacturing". The key to the biggest tool that has revolutionized the digital world is in India's hands today. That is, "smartphones" are now being manufactured on a large scale in the country itself. Today, India has become the second largest country in the world in terms of "mobile manufacturing".
More than 200 mobile manufacturing units in the country
Now-a-days new smartphones are being launched in India. The most amazing thing is that most of these companies are manufacturing "Made in India" smartphones. India has always been a big market for mobile manufacturing companies and this is the reason why companies have reached India with the setup of their manufacturing factories. Second, the incentives given by the central government also created a different environment for an investor company. As a result of this, India has become the second largest mobile manufacturer country in the world. So far, more than 200 mobile manufacturing units have been setup in India. This is a big achievement for India.
PLI scheme ushered in a new era in the manufacture of mobile phones
It is believed that the Central Government has a Production Linked Incentive Scheme (PLI) to help India reach this goal. Yes, the PLI scheme has ushered in a new era in the manufacture of mobile phones and electronic components. To be known, in October, 2020, the Ministry of Electronics and Information Technology had given its approval to 16 eligible applicants under the PLI scheme. Based on this, the PLI scheme has achieved great success in terms of applications received from local mobile phone manufacturers as well as globally. This is also giving a big boost to PM Modi's "Make in India" and "Self-reliant India" programs.
The central government trusts on the strength of the youth of the country
The central government has great faith in the potential of the youth of the country. Therefore, it is also providing opportunities to the youth to step into this field. The government has urged mobile manufacturers to use the skills of the youth of the country. With this, the youth of the country will get employment as well as their income. In such a situation, there are better scopes in mobile manufacturing companies for those people who have technical knowledge. Especially engineering students should come forward taking interest in mobile manufacturing. This will be such a big market in the coming days that the country will earn a lot.
Increased production of mobile handsets
Compared to just two mobile factories in 2014, India has now become the second largest mobile phone producer in the world. According to the information, the production of mobile handsets reached 29 crore units in 2018-19 which was equal to 1.70 lakh crores whereas in 2014 there were only 6 crore units which was equal to 19 thousand crores.
These big companies became part of India's Made in India project
After Xiaomi, many smartphone companies started their manufacturing plants as part of India's Made in India project. At the same time, the world's giant Apple is also included in this. Apple has manufactured some iPhones in India. At the same time, Samsung has set up the world's largest mobile factory in the city of Noida, Uttar Pradesh.
Apple and Samsung phones capture nearly 60% of global sales revenue
The international mobile phone makers under the Rs 15,000 and above mobile phone segment are Samsung, Foxconn Hon Hai, Rising Star, Wistron and Pegatron. Of these, 3 companies namely Foxconn Hon Hai, Wistron and Pegatron are contract manufacturers for the Apple iPhone. Both Apple (37%) and Samsung (22%) together account for about 60% of the global sales revenue of mobile phones and the PLI scheme is expected to increase the manufacturing of both in the country manifold.
In the domestic companies, under the mobile phone segment, Indian companies including Lava, Bhagwati (Micromax), Padette Electronics, UTL Neolinks and Optimus Electronics have been placed. These companies have also expanded their manufacturing operations significantly. These mobile companies are also on the way to develop into the national giants in mobile phone production.
India's earnings in the next 5 years
In the next 5 years, PAUnder the LI scheme, the approved companies are expected to generate a total production of more than Rs.10,50,000 crores i.e. Rs.10.5 lakh crores. Out of the total production, the approved companies under the mobile phone segment priced at Rs 15,000 and above will generate more than Rs 9,00,000 crore. At the same time, production of about Rs 1,25,000 crore was proposed from domestic mobile companies. Domestic value addition is expected to grow by 35-40% from the current 15-20% in the case of mobile phones.
About 2 lakh direct jobs created in five years
These mobile companies will create about 2 lakh direct jobs in the next five years. Along with this, additional indirect employment will also be created, about three times more than direct employment. This will also greatly improve the unemployment problem of the country.
'Ease of Doing Business' in 15 states
Improvements in “ease of doing business” will enable the state to accelerate the future growth of the economy. Therefore, the Government of India decided in May 2020 to provide additional credit raising facilities to the reforming states to help in the ease of doing business. By last year, the number of states that had successfully completed the 'ease of doing business' reforms increased to 15. Three more states Gujarat, Uttar Pradesh and Uttarakhand reported completion of 'ease of doing business' reforms.
These three states were allowed to raise Rs 9,905 crore from the open market. Earlier, Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Madhya Pradesh, Odisha, Punjab, Rajasthan, Tamil Nadu and Telangana had also reported completion of this reform. These 15 states have been allowed to raise an additional loan of Rs 38,088 crore on completion of the reforms to aid ease of doing business. It is noteworthy that this step taken by the central government will significantly contribute to achieving a $1 trillion digital economy and $5 trillion GDP by 2025.
