Finance Minister Nirmala Sitharaman announcing a new scheme to encourage manufacturing of mobile phones, semiconductor packaging and electronic equipment, mobile industry bodies and vendors on Saturday welcomed the move, saying the measures will spur investments into the sectors, while also increasing employment.
“The focus on technology and digital infrastructure is a step towards realising the trillion-dollar economy and will open up new opportunities for demand generation,” Subho Ray, President, Internet and Mobile Association of India (IAMAI), said in a statement.
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According to the India Cellular & Electronics Association (ICEA), the measures announced in the Union Budget will create the necessary momentum to build the $190 billion mobile phone industry with exports of $110 billion, as envisaged in the National Policy on Electronics 2019 (NPE 2019).
Source: NEWSGRAM
