In a significant development for India's ambitions to establish itself as a manufacturing hub to rival neighboring China, companies such as Apple and Samsung Electronics have shown keen interest in expanding their electronics production in the country, according to Rajeev Chandrasekhar, India's Minister of State for Technology.
India, which has already witnessed success in the smartphone segment, aims to leverage its achievements in that field and extend them to other product categories, Chandrasekhar stated in an interview with Bloomberg TV. The country is initiating a $2 billion plan to bolster the local manufacturing of laptops, servers, tablets, and various other electronic devices.
Chandrasekhar highlighted the growing enthusiasm from Apple and Samsung to expand their operations in India, citing the significant success and favorable conditions they have experienced in the smartphone manufacturing sector. The Indian government's financial incentives for smartphone production have resulted in both companies exporting billions of dollars worth of handsets from the country. The newly devised production-linked incentive plan in the IT hardware sector aims to attract companies such as Dell Technologies, HP, and Lenovo, added Chandrasekhar.
Furthermore, Prime Minister Narendra Modi's administration is actively pursuing the establishment of chip fabrication and packaging plants in India. The country seeks to attract prospective chipmakers, as ongoing projects, including a $19 billion plan by billionaire Anil Agarwal, have encountered delays in getting off the ground, as reported by Bloomberg News earlier this month. The government's focus on bringing chip manufacturing to India aligns with its broader strategy to bolster domestic electronics production and reduce reliance on imports.
India's drive to expand electronics manufacturing and attract major players like Apple and Samsung signifies a positive step toward establishing itself as a prominent global manufacturing hub, fostering economic growth and technological advancement within the country.
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