April 15, 2016 1:39:44 am
The government may come out with more policy guidelines, if necessary, to boost electronic manufacturing in the country, Minister of Communications and Information Technology Ravi Shankar Prasad said Thursday.
“We came with all the policies like MSIPS (Modified Special Incentive Package Scheme), differential duty structure, ease of doing business…the entire ecosystem for electronic manufacturing was to be created…if further more is needed, we are quite open to come with new policy guidelines,” Prasad said while launching domestically manufactured smartphones by South Korean electronics major LG. The government is working to make India a big hub of electronics manufacturing and is providing various incentives to companies to set up their shop here.
In the past, Prasad has said that the country’s import bill on electronics was second only to that of oil, adding that the Centre would work to increase domestic manufacturing of electronic goods to reduce import dependence. The minister said that one year down the line, he saw LG manufacturing smartphones in India. “I would expect, this is just a beginning and I am deeply impressed that they will make 1 million smartphones at this facility which they have started,” Prasad said.
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LG launched two locally-made smartphones and targets to manufacture 1 million phones in India. The company will be manufacturing the smartphones at its Noida facility in partnership with contract manufacturer GDN Enterprises.
Several manufacturers have started assembling their devices in the country which is one of the fastest growing smartphone markets globally.
Device makers are keen to set up manufacturing units here to cater to the burgeoning demand.
Also speaking on the occasion, Secretary of Department of Telecommunications J S Deepak said India was best placed for firms to manufacture their phones and electronics.
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