Tech & Sci
22:53, 24-Mar-2017
Boao Forum: Making India an electronic hub
Updated
11:08, 28-Jun-2018
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By CGTN’s Shweta Bajaj
On day two of the Boao Forum for Asia, "Made in Asia" and "Created in Asia" are the main themes up for discussion. In India, the IT industry has played an important role in boosting economic growth in recent decades. However, the country lags behind in hardware manufacturing capabilities, due to issues such as high energy costs and other fees acting as barriers to growth.
Chinese company Xiaomi has made giant leaps in India. Reaffirming its commitment to the “Make in India” policy, after raking in one billion US dollars in revenue in the country last year, the Chinese smartphone maker has announced its second manufacturing unit in partnership with electronics giant Foxconn, which will be built in the southeastern Indian state of Andhra Pradesh.
With its new manufacturing plant, more than 95 percent of Xiaomi's smartphones sold in India will be manufactured in the country. This means that between the two plants, Xiaomi will have a combined production capacity of one phone per second.
The Indian government has been making significant efforts towards achieving its agenda of ‘Make in India’ and ‘Digital India’. It also aims to make electronic manufacturing one of the key pillars behind a digital India. The initiative of the government has led to investments into India for the purpose of setting up new manufacturing facilities.