Achieving $1 trillion digital economy is not a tall claim. Why wait for 7 years? Can we do it in 3-4 yrs? Prasad
The Dollar Business Bureau The IT industry should help India build a $1 trillion digital economy within four years by creating affordable technology and an inclusive environment, Union Minister Ravi Shankar Prasad said today at the High Level Round Table with Pioneers of Industry for developing the roadmap for ‘One Trillion Dollar Digital Economy of India’, organised by MeITY, in New Delhi. Highlighting multi-billion dollar opportunities that exist in areas like IT and IT enabled services, e-commerce, electronics manufacturing, digital payments and cyber security, he said that achieving $ 1 trillion digital economy is not a "tall claim". "I don't have any doubt that it will become $1 trillion in 7 years. My humble request is why wait for 7 ...
Govt wants Apple to consider new policy for local mfg
PTI The government wants iPhone maker Apple to consider a new manufacturing scheme offering duty benefits to set up its plants in the country. "Apple had asked for a set of concessions. For a period of 15 years all the components that Apple imports, they want them to be free of duty. We have a phased manufacturing programme (PMP) because we want more and more value addition to come to the country. We want them to understand how this PMP will work and how they can dove tail into that," Ministry of Electronics and IT Secretary Aruna Sundararajan told reporters on Saturday. She was speaking on the sidelines of the annual session of the Confederation of Indian Industry (CII). ...
Foxconn Chief discusses export incentivisation with Commerce Min
The Dollar Business Bureau Foxconn Country Head and MD Josh Foulger paid a courtesy visit to Commerce Minister Nirmala Sitaraman on March 21, 2017. Among other things, the two leaders discussed export incentives for mobile phones. The manufacturing contractor for some of the biggest global brands like Apple expressed concerns over increased costs due to 2% import duty imposed on printed circuit boards. As a result, the domestic industry has suffered from uncompetitive prices in the manufacturing of feature phones and related accessories Foulger said. The industry had demanded a slew of measures for export incentivisation earlier in anticipation of the budget. The increase of credit under Merchandise Exports from India Scheme (MEIS) from the current 2% rate to 5% was one of the most voiced out wishes. Under MEIS, exporters are credited in ...
Indias mobile phone exports on road to oblivion
Sachin Manawaria | The Dollar Business One of three mobile phones that India imports comes from China While India is planning to make itself a manufacturing hub of electronic goods for the rest of the world, the Indian mobile telephony sector seems to be wading through rough waters. India is among the top three markets for mobile phones. According to estimates by the industry body Indian Cellular Association (ICA), the mobile handset market in India stands at around 250 million units worth around Rs.54,000 crore (about $8.5 billion), with a growth rate of about 11%. However, much of the demand is being met by imports and the export sector is languishing. According to India’s Ministry of Commerce, exports of ...
