Budget 2019: Local mobile manufacturing generating more jobs than ever, says Piyush Goyal
"Mobile and its parts manufacturing companies have grown from two to 268 now, creating thousands of jobs in both urban and rural areas of the country," Goyal said while presenting the Interim Budget for 2019-20 in the Lok Sabha.
Local mobile manufacturing has taken off big in the last couple of years, generating thousands of jobs across the country, Finance Minister Piyush Goyal said on Friday.
"Mobile and its parts manufacturing companies have grown from two to 268 now, creating thousands of jobs in both urban and rural areas of the country," Goyal said while presenting the Interim Budget for 2019-20 in the Lok Sabha.
With the help of the government's phased manufacturing programme to incentivise indigenous production of handsets and their various sub-assemblies, most of such companies are from China who are now manufacturing and assembling flagship smartphones and their parts here.
In 2018, nearly 300 million mobile handsets were produced locally, according to Counterpoint Research.
"In 2015, we set-up our first manufacturing facility that currently employs more than 5,000 people and generates employment for many more," Nipun Marya, Director, Brand Strategy, Vivo India, told IANS.
"With our recent announcement of an additional manufacturing plant, we are planning to provide additional jobs to 5,000 more in the first phase," he added.
Samsung India has also set up world's largest mobile manufacturing facility in Noida that has doubled up the production, generating more jobs.
Goyal said the government aims to have one lakh digital villages in the next five years, adding that the vision is to make India a modern and technology-driven society.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Stocks to buy for long term: Analysts suggest buying these 5 largecap, 4 midcap scrips; check out targets
How your NPS retirement corpus and monthly pension can jump by 40% after this rule change; get details
How much investment do you need in this senior citizen scheme to get Rs 50,000 quarterly interest? Know here
Top 5 ELSS SIP Mutual Funds in 3 Years: Know what Rs 12,500 monthly SIP has turned into in all funds
04:14 PM IST