Highlighting the significant strides made in the semiconductor sector, Union minister Rajeev Chandrasekhar has said that in the last two years, the government has received investment proposals of Rs 2.50 lakh crore from global chip makers.
Read about the letter written by IT Minister Rajeev Chandrasekhar to Finance Minister Nirmala Sitharaman proposing a reduction in import duty on electronic components to boost the country's export growth. Find out how India aims to become a global leader in electronics manufacturing.
India reportedly risks losing out to China and Vietnam as it seeks to become a major smartphone export hub. IT Minister Rajeev Chandrasekhar has sent a confidential presentation to Finance Minister Nirmala Sitharaman raising concerns about losing the country out in smartphone manufacturing due to uncompetitive tariffs.
Global Business Summit: "Component manufacturers have started shifting to our country. A lot of electronics and semiconductor design work has kicked-off. All this will ensure that India becomes a trusted partner in the global value chain (GVC) in a short span of time," Vaishnaw told the gathering.
On Thursday, the minister of State for Electronics and IT, Rajeev Chandrasekhar, highlighted India's transformation from a minor player to a significant participant in the global electronics supply chain. The government's efforts to shift from import substitution to export-led manufacturing include reducing the basic customs duty to 10% on specified goods used in mobile phone manufacturing., Economy News, Times Now