As per the Chinese company Xiaomi they want their global smartphone component makers to establish their base at India which could possibly bring in as much as $2.5 billion of investment to the South Asian nation giving rise to as many as fifty thousand jobs.
Such an approach could be very beneficial to enhance the Indian Prime Minister Narendra Modi’s flagship project of “Make in India” drive. Modi dreams of turning India into a global manufacturing hub in an attempt to hike the job growth in the third largest economy of Asia.
At present New Delhi is having a roadmap to escalate the local assembly of smartphones and just the last week it declared a 10 percent duty on the import of key smartphone components that is inclusive of populated printed circuit boards or PCBs as a part of the plan.
Xiaomi which has already ousted their Korean rival Samsung Electronics to bag the topmost position in the smartphone market of India introduced 50 of its global suppliers in New Delhi as declared at an investment summit on Monday in which many key Indian officials were also present.