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Rs 90k crore investment proposals for electronics manufacturing

News:

  • Government has received investment proposals totalling Rs 90,000 crore in the last two months for electronics manufacturing in the country, with significant interest in making mobile phones by local and foreign firms.
  • India is already the fastest-growing smartphone market and it is now also becoming the fastest growing manufacturing destination of phones in the world, said Ajay Kumar, Additional Secretary in Ministry of Communications and IT.
  • According to CyberMedia Research, 24.8 per cent of smartphones shipped in the country during April-June quarter of 2015 were made locally, up from 19.9 per cent in the preceding quarter.
  • According to the Department of Electronics and IT, the demand for electronics in India is expected to reach USD 400 billion by 2020, while the sector has potential to attract USD 100 billion investment and provide jobs to 28 million people.

Source: ET

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