India has overtaken the United States of America to become the 2nd largest manufacturer of Smartphone in the world, trailing China, as stated by an independent tech analyst canalys. India has now emerged as the second largest home for the half of world’s smartphone shipments said IT Minister Ravi Shankar Prasad. Make in India has turned around the waves in India’s favour making India a global hub for manufacturing which is the principal aim of the ‘Make in India’ Policy. In 2014, there were only 2 manufacturing units in India but since the launch of ‘Made in India’ which propelled the scene in an impressive manner, the number has increased to 123 units in 2017.
This milestone will make India a global manufacturing hub creating millions of jobs for the Indian people. Samsung owns the biggest market share in terms of mobile manufacturing and it has opened its largest manufacturing facility in the outskirts of the national capital region with the surging demand for smartphones in India. Prime Minister Narendra Modi has inaugurated the world’s largest mobile factory in Noida which will double the production capacity to 120 million in 2020 with an aim to export in the middle east and African region. Samsung had announced an investment of INR 4,915 crore for the facility in Noida. The sheer focus of Make in India is to bring investment and create Jobs for youth in India. In this plant, 2000 new jobs will be created said Samsung India CEO HC Hong.
The idea of the Make in India is to transform India into a global hub of manufacturing where the units are to be set up by global and domestic companies. The aim is to increase the employment possibilities in the manufacturing sector to 25 per cent by the year 2025 from the current 16 per cent. The department of commerce and industry with Department of industrial policy and promotion (DIPP) are leading Make in India Campaign to create 100 million jobs. The current manufacturing investment environment has raised the hopes of young India. This sector has produced 38,300 new jobs in the last 2 years.
The NDA government has made significant changes in the policies to make them favourable for the global companies which are investing hugely in India. India is swiftly rising to become the largest economy after the US and China. MSME (Micro, Small & Medium) and entrepreneurs will play a big role in assisting the manufacturing and services industry. Indian market is going through a digital revolution and the credit goes to demonetization which has transformed the Indian economy into a digital economy. With cheaper internet data, fast mobile network availability and the BharatNet project, under which optical fibre internet connectivity provided to the 1.10 lac gram panchayats, a surge in the use of Smartphone has been witnessed which approximately is 40 crores.
The world has surely taken the notice of the conducive investment environment in India. World’s biggest tech giants and entrepreneurs have already made their expansion plans in India. Investors around the world have shown immense confidence in India which will be helpful in meeting the needs of the Indian economy and hence, generate employment in India. The onus of success largely goes to initiatives like the Make in India, Digital India and skill India by the BJP led Government.
