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‘Make in India’ Spins the Wheel Amid Rising Chinese Imports
- The 'Make in India' initiative, launched in 2014, aims to boost domestic production and decrease reliance on imports to turn India into a global manufacturing hub.
- Apple's decision to manufacture AirPods for export at Foxconn's Hyderabad plant signifies a shift in its supply chain strategy beyond China, underlining its growing importance in the Indian market.
- Despite efforts to boost domestic manufacturing, India's imports from China have been on the rise, contributing to a growing trade deficit.
- India's 'Make in India' program aims to position the country as a global competitor, highlighting progress in sectors like electronics, with substantial growth in production and exports.
- While some imports are deemed necessary for 'Make in India', experts stress the importance of achieving self-reliance by fostering local innovation and strengthening domestic supply chains.
- India's push for self-sufficiency in semiconductor manufacturing has led to debates around 'Make in India', emphasizing the gradual nature of the journey towards achieving significant local value addition.
- Strategic global partnerships play a role in India's manufacturing landscape, with an emphasis on aligning with the 'Make in India' criteria to ensure products contribute significantly to value addition within the country.
- The establishment of projects like Kaynes SemiCon in Gujarat aligns with the 'Make in India' initiative, leveraging technology partnerships to meet the criteria for significant value addition within the country.
- Initiatives like the India Semiconductor Mission (ISM) offer incentives for domestic semiconductor production to reduce reliance on imports and cultivate a robust semiconductor ecosystem in India.
- While import reliance poses challenges, the focus remains on shifting the mindset towards product-oriented approaches to enhance local manufacturing capabilities and realize India's potential as a 'product nation' in deep tech sectors.
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