Finance Minister Nirmala Sitharaman proposes a scheme to encourage manufacturing of mobile phones, electronic equipment and semiconductors in India in Budget 2020. The scheme is aimed at boosting the domestic manufacturing of electronics in the country.
The details of the scheme will be announced soon. The move is to attract more players like Apple and Samsung for local manufacturing in India.
In addition, she has set aside a total of Rs 27,300 crore for development of industry and commerce in the financial year 2020-21. Sitharaman also proposed to set up investment clearance cell, an end-to-end advisory portal for businesses in the country.
Five new smartcities have been proposed in collaboration with states in PPP mode.
Last year, Apple had started production of iPhone XR in India for domestic market and exports. Apple's partner Salcomp is also taking over the closed facility of Nokia in a SEZ near Chennai. The facility is expected to become operational from March this year and will produce charger and other equipment.
