- It said that it supports the recent announcement by telecom and IT minister Ravi Shankar Prasad inviting applications for the Rs 50,000 crore inventive scheme
- Electronics import accounts for almost 11 per cent of total imports in India
The Internet and Mobile Association of India (IAMAI) has launched a helpdesk for mobile and mobile component manufacturers who are seeking to relocate their production bases in India. It said that it supports the recent announcement by telecom and IT minister Ravi Shankar Prasad inviting applications for the Rs 50,000 crore inventive scheme. This scheme aims to attract global mobile device makers and boost local companies to manufacture more electronic products.
Recently, the government has launched three major schemes -the Production-Linked Incentive Scheme (PLI), Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) and Modified Electronics Manufacturing Clusters (EMC 2.0) Scheme to fuel the electronics manufacturing sector. IAMAI said in a statement that these policies echo the maxim ‘vocal for local’ as espoused by the Prime Minister for a stronger and more self-reliant Indian economy.
Electronics import accounts for almost 11 per cent of total imports in India. It is valued at Rs four lakh crore as on October 2019. It said that the government agencies are not well-equipped to hand-hold individual firms, promote incentives overseas; and manufacturing investments are very difficult to relocate on account of time and effort. It added that considerable additional efforts are required to build trust and convince global manufacturing firms to actually take the call to invest in a new location. The IAMAI helpdesk aims to address these issues via a two-pronged approach.