Govt Celebrates 12 Years of Make in India; Smartphone Manufacturing Grows
On September 25, 2014, PM Modi launched the Make in India initiative. Union Minister Ashwini Vaishnaw announced that smartphone manufacturing is set to grow further, with India focusing on producing more components.
What Happened?
On September 25, 2014, PM Modi launched the Make in India initiative. Union Minister Ashwini Vaishnaw announced that smartphone manufacturing is set to grow further, with India focusing on producing more components.
AI Quick Summary
India celebrates 12 years of Make in India with a focus on expanding smartphone manufacturing and local component production.
Key points
- PM Modi launched the Make in India initiative on September 25, 2014.
- Ashwini Vaishnaw announced growth in smartphone manufacturing in India.
- India is now the second-largest phone maker globally, producing 330 million phones annually.
- 99.2% of mobile phones sold in India were made locally in FY2023-24.
- India is expanding its production of smartphone components, including batteries and materials.
- The Rs 62,500 crore Mobile Phone Manufacturing Scheme aims to incentivize local manufacturing.
Key insights
- India's focus on local component manufacturing may reduce dependency on imports.
- The Mobile Phone Manufacturing Scheme could boost domestic brands and innovation.
- Expansion in battery production may lead to advancements in electric vehicle technology.
Why it matters
The growth in smartphone manufacturing could enhance India's position as a global manufacturing hub.
Tags
Entities
Source
India Today
