In India the industry has become a growth sector, the Indian Prime Minister has introduced the Indian brand to turn the country into a production centre and the Indian government has set itself the goal of creating more than 100 million jobs in the industry by 2022.
The Do-India initiative has made it possible to become a hub for several production units. The following companies have established or plan to establish their production units in India and see an attractive market with more than one billion consumers.
- GE
- Siemens,
- HTC,
- Toshiba,
- Boeing
It has become the most attractive place to invest in production. These are the developments and investments in India.
- Sterling and Wilson Solar Limited have a technical sales contract worth Rs. 2,600 ($368.85 million in Australia – May 2020).
- The state-owned company Bharat Earth Movers (BEML) produced the first subway car as part of the Make-in-India initiative. (September 2019)
- Berger Paints India Ltd., based in Calcutta, has acquired a 95.53% stake in STP Ltd. (STPL), a company active in seals and protective coatings (October 2019).
- Vivo has planned an investment of 3500 crores (August 2019).
- One plus has launched Smart TV in India (September 2019).
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Measures taken by the government to ensure conditions for the growth of the country’s production capacity –
- The government increased foreign direct investment in arms production from 49% to 74% (May 2020) and approved 100% of foreign direct investment in contract production through an automatic channel. (August 2019).
- The Government also issues an Advance Authorization Scheme, under which duty-free imports of raw materials for the manufacture of exported products and the amount of customs savings can be used to improve the quality of products to be used as working capital for companies.
- In order to develop a world-class infrastructure with additional facilities and equipment, the government has approved financial support for adapted electronics production clusters.
- Under the Making India initiative, the government aims to increase the share of manufacturing units in GDP to 25% by 2025.
- The Government of India has set up several export promotion programmes to boost the country’s exports, such as the MEIS programme for exporters of goods / MEIS for exporters of services /RODEP to refund all duties and taxes on export products. The EPCGS was set up under the EPCGS to allow exporters to produce machinery free of duty.
- In India, 723 Pradhana Mantri Kaushal Kendras (PMCK) had been established and 73 Lakhs trained at the PMCK by January 2020.
- There are currently 14,602 training institutes (ATIs) in India.
- The government has set up the Pradhan Mantri Kaushal Vikas Yojana programme, under which 19.85 Laughs have been trained, of which 2.62 (13.23 per cent), 52.12 Laughs were given jobs in October 2016 and 12.60 in October 2016.
The government has set up the National Electronics Policy (NPE) to establish $400 billion worth of electronics factories in India.
In order to establish India as a global hub for the production of electronics and to reduce dependence on imports from other countries, and to promote domestic production and export of electronic equipment and semiconductors, the government has set up the following programmes at the expense of Rs. 50.000
Production Incentive Programme (PLI): –
The programme provides an incentive of 4-6% for additional sales, which will be available from 1 January 2010. August is valid.
Aid scheme for the manufacture of electronic components and semiconductor devices: –
The SPECS will provide an advantage of 25 % of the capital cost of the notified electronic goods and components.
Diagram of the modified electronics production clusters: –
The scheme provides support for the establishment of a more favourable manufacturing environment, the Government extended the FTP for one year and also extended all export benefits including SEIS and MEIS for exporters/exporters of services/goods.
Author: Team
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