Steps Taken By Government of India to promote India as a Industrial Hub

Goverment of India has taken several steps to promote India as a Industrial Hub. The Government has made the Performance Linked scheme to promote companies to set up their factories in India. In this the company will receive the incentives of Rs 50,000 Crores to manufacturer's how meet the set target's-aim to boost smartphone manufacturing export from $3 billion to $100 billion by 2025. To get the incentive the companies has to make the $200+ smartphones worth Rs 4000 crores in first year, Rs 8000 crores in second year, Rs 15000 crores in third year, Rs 20000 crores in fourth year and Rs 25000 crores in fifth year.

Government of India Logo.

According to industries battery, display and PCB industry should get an boost immediately. Samsung is already investing $500 million for its display manufacturing in India even before the arrival of the Scheme. Commonly display is considered to as the most expensive part of the Smartphone. The battery maker Amperex reportedly meet Haryana Goverment for its manufacturing operations in state. The new incentive will encourage the Bid Companies to make their Smartphone components locally in India.

One of the older clauses that Apple was against was removed, in which they are valuing the machinery brought to India at just 40% of its actual worth. Now Apple is deciding to make the Multi-Billion-Dollar deal with India. The maker like Apple which uses complex technology to make its Smartphone's gives the boost in the Scheme and steps by Indian Government. This move also encourages the other Smartphones giant to manufacture their components locally.

Apple Logo.

However, only main problem is of getting the Manufacturer's like TSMC and Samsung to set up their fabrication industry in India to make the processors in India. The processors are also counted as the expensive thing in the Smartphones. The fabrication industry is difficult to set up as it requires the huge investment of money to train the labour and setting up factory. The totally made in India smartphone is not possible till the fabrication industry will set up in India.