web analytics

Make In India Initiative Likely To Bring In $3 Billion From China

“Make India” initiativeTop Chinese handset and component manufacturers recently met in New Delhi, India to discuss ways to leverage India’s manufacturing abilities. The talks could result in Chinese investment of close to $3 billion in India over the next two years, bolstering Prime Minister Narendra Modi’s “Make India” initiative.

The first-ever summit “China-India Mobile Phone & Component Manufacturing Summit” in New Delhi brought together major mobile handset manufacturers from both India and China to discuss emerging opportunities in India.

Participants included senior officials from Chinese companies such as Techno, Gionee, Coolpad, Holitech, Wingtech, Camera King, Galaxy Core, Poxiao, Vivo and Sprocomm and from Indian mobile companies such as Micromax, Lava, Karbonn, Spice, Vodafone and Intex.

In statement, Pankaj Mohindroo national president, Indian Cellular Association (ICA) said,

Going by the encouraging response of Chinese companies and definitive joint collaboration talks between the Indian and Chinese mobile and handset manufacturers, Chinese investment of $2-3 billion over the next two years looks like a real possibility along with employment for one-two lakh people.

The summit, organised by ICA, the apex body representing the mobile handset and components industry in India and Mobile World (Shoujibao), China’s leading mobile industry service platform, came about as a result of Prime Minister Modi’s visit to China in 2015. In his visit, Modi promoted his “Make in India‘ vision, inviting Chinese companies to take advantage of the improving business climate in India and establish manufacturing facilities.

According to Wu, founder and CEO, Mobile World (Shoujibao), Shenzhen, the three things attracting Chinese manufacturers to India are its population, the massive market and the ‘Make in India‘ drive by its government. He stated that the progressive polices by the government and new manufacturing eco-systems in India bode well for investing and doing business in India.

Zhong Qi, vice president of Tecno, a Chinese mobile handset manufacturing major said that they were very keen to tap the potential in India, as India presented the biggest manufacturing platform for the Chinese industry.

Mohindroo stated that Chinese companies had a strong infrastructure back home and were usually against establishing manufacturing bases in other countries. However, India is viewed by them as “the hottest next destination” for manufacturing and paid tribute to Prime Minister Modi’s initiative of promoting his ‘Make in India‘ vision.

The summit also included sessions covering various aspects of the Indian mobile manufacturing eco-system including policy framework, incentives and market potential. In a recent PwC Report India As A “Star Performer” with a 7.7 percent growth in 2016 outdoing China.


Related Articles

Russian Ruble continues to sink in oil glut

On Monday, following the news of the strike by the Kuwaiti oil and gas workers, the price of crude oil

FCA Proposes New Rules To Aid Saudi Aramco Listing On LSE

UK regulator, the Financial Conduct Authority (FCA) proposed new rules this week to enable sovereign state-owned companies like oil giant

ESMA New Forex Leverage Limits Are No Reason For Traders To Panic

Forex traders were stunned recently when the Europe Securities Markets Authority (ESMA) rolled out its new forex trading regulations. ESMA’s