The Government has announced incentives and also lowered taxes to attract the companies that are moving out of China. More than 10 mobile manufacturing companies have shown their interest. It is known that the investment amount would account to $ 1.5 billion. Many companies including Apple, Samsung etc. had shown interest to start their units in India. The number started increasing recently and the investments will further increase. It will lead to the creation of around 1 million jobs in India in the coming 5 years span.
As a part of ‘Make In India” the government has made changes to make the process easy for the new entrants. It has also lowered the taxes to attract them. The reduced taxes were among the lowest in Asia, while the incentive plan is known to be successful. As the investments started diverting from China as well.
The incentive plan was not just limited to mobile manufacturing units, almost a similar kind of incentive plan was also announced for pharma companies and discussions were going on to introduce such plans for other sectors as well.
If it becomes successful India will be a hub for businesses. Investments will increase, millions of direct and indirect jobs will be created, exports will also raise. And ‘Make In India’, would be successful.
CLICK HERE !! To be found on google search engine