India, which used to import mobile phones worth $8 billion seven years ago, is now exporting such devices worth $3 billion, says Prime Minister Narendra Modi. He highlighted that imports have been reducing significantly.
PM Modi, addressing the nation on the occasion of India’s 75th Independence Day, said the government has announced a production linked incentive (PLI) scheme to further the flagship “Make in India” mission. “Electronic manufacturing sector is an example of the change that the scheme is bringing. Seven years ago, we used to import mobile phones of approximately $8 billion. Now imports have reduced. Today, we are exporting mobile phones worth $3 billion.”
The Ministry of Electronics and IT has cleared 16 proposals from domestic and international companies entailing investment of Rs 148 billion under the PLI for global majors as well as domestic companies.
As such, the Prime Minister highlighted that the country’s manufacturing sector is advancing. “We should focus on making best quality products that can stand in the global market. We have to target the global market. Your (manufacturers) product is the brand ambassador of India. Till the time it is in use, its user will proudly say this product is Made in India. This temperament is required.”
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He added that thousands of start-ups have emerged during the tough time of coronavirus and start-ups are becoming unicorns. “Their market value is touching thousands of crores. They are new kinds of wealth creators in the country. They are standing on their own with the power of their unique idea. They are marching forward. In this decade, we need to work to make the Indian start-up ecosystem the best.”
PM Modi assured the country that the government is standing behind them with full vigour.