New Delhi, August 20: Amid the COVID-19 pandemic and massive job cuts, reports arrived that the smartphone industry in India is planning to recruit as many as 50,000 job seekers by December-end. Domestic and international smartphone makers like Foxconn, Wistron, Samsung, Dixon and Lava are mulling to ramp up the manufacturing bases under the Union government’s Production-Linked Incentive (PLI).
According to a report, published by Times Now, president of India Cellular and Electronics Association (ICEA) Pankaj Mohindroo claimed that the mobile phone manufacturing industry has seen a growth of 1,100 per cent. Adding more, Mohindroo also stated that due to the pandemic the ‘explosive growth’ in the sector got delayed, but expects that the smartphone industry will add 50,000 direct jobs by December-end. As per the ICEA, 1,100 per cent growth in the smartphone industry was achieved during 2014-19 period. India Gets Applications from 22 Companies to Set Up Mobile Phone Manufacturing Units Under Production-Linked Incentive Scheme, Firms Likely to Invest Rs 11.5 Lakh Crores in 5 Years.
Earlier on April 1, 2020, Ministry of Electronics and Information Technology (MeiTY) in its notification had announced about the Production Linked Incentive Scheme (PLI) for Large Scale Electronics Manufacturing. Under the scheme, the Union government planned to offer production linked incentive to boost domestic manufacturing and attract large investments in the mobile phone manufacturing sector. Also, manufacturing of specified electronic components, like Assembly, Testing, Marking and Packaging (ATMP) units were also included.
The aim of the PLI scheme is to make India a manufacturing hub of smartphones under the Atma Nirbhar Bharat initiative. Union Minister Ravi Shankar Prasad even pointed out that through PLI, India is looking forward to becoming strong and self-sufficient in resources.
(The above story first appeared on Fool’s Corner on Aug 20, 2020 06:34 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website foolscorner.com).