PM Narendra Modi lays foundation stone for mobile manufacturing facility in Tirupati
Prime Minister Narendra Modi has laid the foundation stone of Shri Venkateswara Mobile and Electronics Manufacturing Hub in Tirupati, Andhra Pradesh.
It is country’s first dedicated mobile manufacturing electronics cluster to be established in lines with Union Government’s flagship Make in India initiative.
In this hub, Foxconn which is world’s largest contract manufacturer of electronics already has started its operations for manufacturing brands such as Xiomi and Gionee.
Other important mobile brands like Micromax, UTL (Karbonn) and Celkon are also planning to start their manufacturing operations in this hub.
The first of its king hub is expected to create more than 10,000 jobs within a year. By the year 2019, it will contribute at least 5 per cent of the all-India target of 15 lakh jobs.
Andhra Pradesh government is also working to set up design and incubation centres to make state a truly global scale mobile handset manufacturing hub.
It should be noted that Union Government has established Fast Track Task Force (FTTF) to promote mobile handset manufacturing eco-system in India.
Categories: Business & Economy Current Affairs 2017