February 12, 2015: The ‘Make in India’ campaign has already created an impact globally as the government has received received proposals worth Rs 210 billions. The information was revealed by information technology and communications minister Ravi Shankar Prasad while addressing at an event. He said that out of these, proposals worth Rs 60 billion has already been cleared. In the latest reports, Prasad was quoted as saying, “We have got proposals worth Rs 210 billions and we have already cleared Rs 60 billion worth of proposals.”
The figures indicate a healthy response to the ‘Make in India’ campaign as Prime Minister Narendra Modi’s appeal to the foreign manufacturers to “make in India” is finally taking fruition. As indicated by the National Democratic Alliance (NDA) government, the campaign attempts to boost national manufacturing’s share of economic output from the 15 per cent level at which it has stagnated for decades.
However, there are challenges faced by the electronics industry which have been outlined by Deloitte Touche Tohmatsu India Pvt. Ltd in a report recently. The report states that while there’s a healthy increase in demand of electronics hardware in the country and is projected to rise to $400 billion by 2020, domestic production is expected to reach only $104 billion. Pointing towards this trend, some analysts have predicted that this can be a warning signal for India. This is because, if the country is unable to reduce the widening gap between the imports and the domestic produce, the country’s electronics import bill may surpass its oil import bill by 2020.
In September last year, Ravi Shankar Prasad had met executives at German companies such as Bosch GmbH, Osram Licht AG, Rohde and Schwarz GmbH and Co KG, Giesecke and Devrient GmbH, Von Ardenne Anlagentechnik GmbH, Infineon Technologies AG and Coriant GmbH and Co. KG. He had also visited South Korea a month later to meet executives from companies like Samsung Electronics Co and LG Electronics.