“Lenovo’s decision to establish smartphone manufacturing in India and joining an increasing bandwagon of smartphone manufacturers is proof of Indian manufacturing competitiveness. The component and module eco-system will soon follow to support large scale manufacturing for a single category – smart phones. Smaller manufacturers then will benefit from this eco-system.
Along with Smartphones, Consumer Electronics and Set Top boxes also offer a large local market and are likely to be locally manufactured. The competitiveness is best demonstrated when companies eventually establish India as their export hub.
The revised MSIPS policy notified earlier this month extends incentives for local manufacturing of significantly larger number of products and intermediates (components/modules), especially those that are consumed locally in large volumes. This should draw companies to make in India.
The “Make in India” initiative of the Government is taking wings. We anticipate more such announcements from both Indian and Multinational companies in the months to come” – said Vinay Shenoy, Chairman, India Electronics & Semiconductor Association.
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