IAMAI To Assist Investors in Electronics Manufacturing Relocate Base In India

New Delhi, Jun 17 (PTI): Industry body Internet and Mobile Association of India (IAMAI) on Wednesday said it has launched a helpdesk for mobile and its component manufacturers seeking to relocate their production bases in India.

Its reach-out programme will seek to amplify the policy packages to help create a buzz around India as the preferred destination for investment through Indian and international agencies such as Invest India and others.

The industry body said it will leverage its international partners for the helpdesk to vigorously promote the enabling policies that the Government of India has announced in overseas markets such as East Asia, Europe, and the US with a view to establish India as a preferred destination of investment in electronics manufacturing.

 The announcement comes on the heels of three major schemes being launched by the Indian government  - Production-Linked Incentive Scheme (PLI), Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) and Modified Electronics Manufacturing Clusters (EMC 2.0) Scheme - to boost the electronics manufacturing sector.

These policies echo the maxim 'vocal for local' as espoused by the Prime Minister for a stronger and more self-reliant Indian economy, IAMAI said in a statement.

 Electronics import accounts for almost 11 per cent of total imports in India, and is valuated at Rs 4 lakh crore as on October 2019.

 A vibrant domestic electronics manufacturing sector can not only help India reduce import dependency and become self-reliant, but has the potential of emerging as a major export revenue earner for the country, it said.

 IAMAI extends its full co-operation to the government in this endeavour and the helpdesk is an effort to compliment the initiative, it said.

 "The government agencies are not well-equipped to hand-hold individual firm, promote incentives overseas; and manufacturing investments are very difficult to relocate on account of time and effort.

 “Therefore, considerable additional efforts are required to build trust and convince global manufacturing firms to actually take the call to invest in a new location," IAMAI said.

 The IAMAI helpdesk seeks to address these issues via a two-pronged approach.