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How did 'Make in India' fare in 2015? - Part 1

Posted: 21 Dec 2015     Print Version  Bookmark and Share

Keywords:Make in India  smartphone  electronics industry  manufacturing hub 

The goal is to transform India into a global design and manufacturing hub, encouraging multinational, as well as local, companies to make their products in the country. Has the "Make in India" initiative successful, particularly in the electronics industry, more than a year after Prime Minister Narendra Modi on September 25, 2014?

The answer is, "It's too early to tell."

However, many companies, particularly those based abroad, have responded positively to Modi's invitation. In fact, the Hindustan Times reported that the electronics manufacturing industry received about $14.17 billion (₹90,000 crore) investment proposals in June and July alone.

Many of the local and foreign companies that offered to invest in the country had plans on manufacturing mobile phones.

In the last 12 months, the government has received about $17.32 billion (₹1.10 lakh-crore) worth of proposals for electronics manufacturing under the modified special incentive package scheme (MSIPS). Other multinational companies, such as Samsung, LG, Thomson, Airbus, Phillips and Flextronics, have also expressed intent to manufacture their products here.

EE Times India reviewed some of the biggest developments in the electronics industry brought about by the Make in India initiative of the Modi government.

Siemens to create 4,000 jobs

German company Siemens vows to bring 4,000 jobs in India in addition to its 16,000 employees in the country through an investment worth $1.12 billion, The Economic Times reported.

The move makes Siemens the first European conglomerate to commit a huge amount of money in response to the Make in India campaign by Modi. The company also opens its doors to a possible merger and acquisition in software, according to CEO Joe Kaeser.

In an interview with The Economic Times, Kaeser revealed that Siemens had invested some $2.2 billion here in the past decade. He also assured that the company would continue investing in the country to support Modi's initiative.

Siemens also expressed its interest to merge the company's engineering skills with India's software capabilities in its operations here, disclosing the possibility of an acquisition. The German company employs more than 4,000 engineers, one-third of which are software.

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