Manufacturing/Make in India
Indian industry has to align with global standards to speed up vision of 'Make in India': Union Minister for Commerce and Industry
Union Minister for Commerce and Industry said that Indian industry has to align with global standards to speed up the vision of Make in India. He said, quality of the final product cannot be compromised as it is the deciding factor of industry's competitiveness. He also added that any country which does not allow equal, reciprocal access to our products and services in their country, government will not allow them to participate in governmental contracts in India.
Announced duty hike to promote ‘Make in India’
Defending the government proposal to increase duty on various items, Finance Minister said it was not done with a sense of protectionism but to promote Make in India. “If we have raised duty it isn’t done with the sense of protectionism. If there are medical devices being made in India, we want to give encouragement under ‘Make in India’, at least for those we don’t want imports flooding the market,”.
Govt announces special fund to boost local manufacturing of mobile phones
Make in India is set to get a major boost with the introduction of a special fund. During the announcement of Budget 2020, the government announced new measures to strengthen local manufacturing of mobile devices and components. Now, the government is going a step further to promote local manufacturing of mobile devices. It is also focusing on local manufacture of electronic components and semiconductor packaging. The scheme is said to help job creation in the country.