India’s Union Minister for Electronics & Information Technology Ravi Shankar Prasad has announced three new electronics manufacturing guidelines. These guidelines are aimed at boosting local manufacturing and attracting foreign investments. The government says these three schemes will account for Rs. 50,000 crores or approximately $7 billion.
“The three new Schemes are expected to attract substantial investments, increase production of mobile phones and their parts/ components to around Rs.10,00,000 crore by 2025 and generate around 5 lakh direct and 15 lakh indirect jobs.”, reads the official press release.
Initially, the government will choose five global and five Indian smartphone brands for this initiative. While the names will be announced in the next couple of months, we could expect Apple to be one of them.
