As the Modi government intensifies efforts to build a domestic supply chain and challenge China, the Ministry of Electronics and Information Technology announced on Friday that it has approved 22 investment proposals for electronic components, totaling $4.6 billion, which are expected to generate a value of 2.58 trillion Indian rupees (approximately $28.6 billion). Approved projects include investments from major companies such as Samsung and Tata Electronics, covering the manufacturing of 11 key products widely used in mobile phones, telecommunications equipment, consumer electronics, automobiles, and IT hardware. The Ministry of Electronics and Information Technology stated that these projects are expected to strengthen the domestic supply chain and reduce reliance on imports. This move comes as Apple increases the number of factories in India for assembling iPhones, with Apple having previously shifted most of its production for the US market from China to India to reduce tariff risks. Despite India facing the highest level of US tariffs globally, electronics have so far been exempt from higher tariffs.
Image source: Internet
Original article: toutiao.com/article/1853271511539785/
Statement: This article represents the personal views of the author.