Indian Prime Minister Narendra Modi revealed his country’s important achievements in the world’s mobile phone industry, since efforts to build a mobile phone factory in the country were echoed in recent years.
According to him, India still imported USD 8 billion worth of mobile phones seven years ago and now the country has exported USD 3 billion worth of such devices while reducing imports significantly.
In a speech delivered from the Red Fort fort on the occasion of India’s 75th Independence Day, Modi said the government had announced a production-related incentive scheme to advance the flagship mission of ‘Make in India’.
“The electronics manufacturing sector is an example of the change the scheme is bringing about. Seven years ago we imported around USD 8 billion of mobile phones. Now imports are reduced. Today, we export $3 billion worth of mobile phones,” he said.
The Ministry of Electronics and IT has completed 16 proposals from domestic and international companies requiring investment of Rs 148 billion under production-related incentives (PLI) for global majors as well as domestic companies.
The prime minister said as the country’s manufacturing sector progresses, “we must focus on making the highest quality products that can survive in the global market”.
“We have to target the global market. Your product (manufacturer) is the brand ambassador of India. Until the time of use, users will proudly say this product is Made in India. This temperament is necessary,” Modi said.
He said thousands of start-ups had emerged during the difficult time of corona and start-ups were becoming unicorns.
“Their market value touches thousands of crores. They are the creators of a new kind of wealth in the country. They stand alone with the power of their unique ideas. They move forward. In this decade, we need to work to make India the best start-up ecosystem, “the prime minister said, assuring” the government is standing behind them with full force. ”