The Indian government’s ‘Make in India’ plan has been getting big boosts. Major companies have been announcing their entry in the Indian manufacturing sector. Another company has boosted the plans of the government. This time it is the Indian born company Micromax that is planning to make India as its manufacturing base by 2018.
This news comes straight from Rahul Sharma, who is also the company’s co-founder. Right now most of its devices are made in China and as a result the company has to pay high manufacturing and assembly expenses there, thanks to the rising labour and component supply chain investments in China. Shifting to India will help Micromax in consolidating on these investments as in terms of manpower, India is far cheaper than China.
Micromax will be investing around $45 million in India for the construction of new factories to manufacture phones in India. The company had also signed an MoU with the Andhra Pradesh government in September 2015 to manufacture phones in Tirupati, Andhra Pradesh. Not only Micromax, but a few other names like Celkon and Karbonn too had signed MoU with the Andhra government.
This is a highly positive news for government as not only will it give boost to its ‘Make in India’ program, but also bring in opportunity and employments.