Smartphone Accessories: China still remains number one in the world of manufacturing and selling smartphones and smartphone related parts. But, India wants to become number 1 in the world in terms of manufacturing and selling smartphones, for which it is facing tough competition from China and Vietnam. Regarding this, Minister of State for IT Rajiv Chandrashekhar has said that India needs to work fast to attract big companies by offering better tariffs. This will give India a place in the global smartphone market.
High tariff on smartphone parts
For your information, let us tell you that Prime Minister Modi has always been associated with making India a hub of smartphones. Prime Minister Modi wants to boost the economy and create jobs by making smartphones in India. But due to high tariff on smartphone related parts, it is preventing companies from taking their production from China to India. Chandrashekhar expressed this in a personal presentation before the Finance Minister.
India far away from electronics manufacturing share target
Despite India’s progress in smartphone production, its exports are lower than those of China and Vietnam due to tariff related problems. Let us also tell you that Chandrashekhar has supported tariff policy reforms in line with India’s larger goals and has emphasized the importance of exports for the growth of the mobile phone manufacturing industry. Along with this, let us also tell you that India’s share of electronics manufacturing globally is only 4%, which is not even close to the big target of reaching 25% by 2029, which emphasizes the need for tariff policy reforms. You may be aware that meanwhile, countries like China and Vietnam have already achieved strong positions.