The government has received Rs 90,000 crore investment proposals in the last two months for electronics manufacturing in India, as part of the country’s Make in India campaign. “About Rs 90,000 crore worth of proposals were received in the last two months. There is hardly any company, which has not shown interest to manufacture in India,” said Ajay Kumar, additional secretary in the communications ministry. India is already the fastest-growing smartphone market and is now becoming the fastest growing manufacturing destination of phones in the world, Kumar said.

It is estimated that around Rs 1.10 lakh-crore worth of proposals have been received in the last 1 year from various companies for electronics manufacturing under the ‘Make in India’ Modified Special Incentive Package Scheme. Over 80% have materialised in the last two months. The government has extended the MSIPS policy by five years to boost electronics manufacturing.

"There is a significant interest in mobile phones. Now we are seeing a lot of players are coming in, both Indian companies, who were till now importing, as well as foreign companies.

Global players like Airbus, Phillips, Thomson, Samsung, LG and Flextronics have all shown interest to start manufacturing in the country. CyberMedia Research, reports that 24.8% of smartphones shipped in the country during April-June quarter of 2015 were made locally, an increase from 19.9% in the preceding quarter.

Players like Samsung, Micromax and Spice have been assembling handsets in India and firms like HTC, Asus and Gionee have evinced interest in setting up their manufacturing base in India. Xiaomi and Motorola, along with Lenovo, have already commenced assembling smartphones in the country through the contract manufacturing by Foxconn and Flextronics.

The futuristic vision of the Prime Minister by initiating Make in India platform will definitely create huge job opportunity and will fulfill the promise he has made during the election.
This very call is slowly making India the hub of manufacturing. Slowly the world will have products made in India.

By Premji