Sign In
Learn bits
World Affairs, Economy
Pradeep Kumar

15/04/21 11:45 AM IST

Source: The Hindu

India can be hardware manufacturing hub

In news

There is an opportunity for India to become a hardware manufacturing location as the world’s technology majors have been moving their supply chains out of China over the past 18 months.

Reason
  • The coronavirus pandemic exposed the downside of sourcing much of global manufacturing in one country. 
  • The global shutdown put the spotlight on China, the country first affected by the coronavirus and where the great bulk of the world’s goods are manufactured. China accounts for a whopping 35 percent of global manufacturing output, according to consulting and research firm McKinsey Global Institute. 
Highlights
  • The companies are planning to diversify supply chains amid the ongoing coronavirus pandemic and US-China trade war.
  • So far, India has lagged behind countries such as Vietnam, Cambodia, Myanmar, Bangladesh and Thailand in enticing these companies to set up plants in the country.
  • However, the Indian government expects that the PLI could lead to production of $153 billion of manufactured goods and generation of nearly 1 million direct and indirect jobs.
  • The government had announced a production linked incentive scheme (PLI) for large scale electronics manufacturing to boost domestic manufacturing and attract large investments in mobile phone manufacturing and specified electronic components.
  • According to recent reports, Apple has plans to expand manufacturing in India.
  • Its supplier Foxconn is also planning to invest up to $1 billion in India.  
Source: The Hindu

More Related Current Affairs View All

21 Aug

Promotion and Regulation of Online Gaming Bill, 2025

'The Lok Sabha recently passed the Promotion and Regulation of Online Gaming Bill 2025.' The bill encourages e-sports and online social games while prohibiting harmful online mo

Read More

21 Aug

Union Home and Cooperation Minister Shri Amit Shah introduces the Constitution (One Hundred and Thirtieth Amendment) Bill, 2025

'Union Home Minister and Minister of Cooperation, Shri Amit Shah  introduced the Constitution (One Hundred and Thirtieth Amendment) Bill, 2025, the Union Territories (Amendmen

Read More

20 Aug

How should toll collection practices be reformed?

'The Public Accounts Committee (PAC) of Parliament has proposed major changes to toll collection on national highways, including a recommendation to end the practice of perpetual t

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps