In a drive to make India the electronics factory of the world, the government will meet CEOs of electronics and smartphone makers, including Apple and Samsung, on Monday (Sept 16) to discuss the challenges they face and incentives expected to expand business, a report says.
The meeting happening amid growing US-China trade tensions is expected to project India as the best place to do business with its talent pool, digital base and competitive labour costs.
With an ambitious plan to become a $5 trillion economy, India is hoping to create a $400 billion electronic manufacturing base by 2025.
The meeting to be chaired by Electronics and IT Minister Ravi Shankar Prasad, above, will draw market leaders such as Dell, Intel, Cisco, HP, LG, Bosch, Panasonic, Nokia, Vivo, Oppo, Qualcomm, Xiaomi, Flextronics and Foxconn.
The government will help these companies to expand their business in India, bring in supply chain and value addition.
It plans to manufacture 1 billion mobile handsets worth $190 billion by 2025. Of this, 600 million high-end phones worth $110 billion will be exported.
India faces tough competition in the $467 billion global handsets market from countries such as China, Vietnam, South Korea and Taiwan.