Manufacturers foray into India to diversify supply chains
With government initiatives like ‘Make in India’ and ‘Aatamnirbhra Bharat’ in place, manufacturing in India is gaining traction. Also, with global brands planning to shift base from China and de-risk the supply chain, India is at a cusp of becoming the next manufacturing powerhouse.
According to news reports, Salcomp - developer and manufacturer of chargers for mobile phones and other electronic devices is expanding its operations in India. The company is planning to set up manufacturing in an abandoned factory of Nokia, which shut production four years back. Salcomp manufactures over 8 million chargers a month in India, where it employs more than 7,500 people. It has plans to hire thousands in the next two years as the abandoned special economic zone comes back to life.
In addition, Apple manufacturers such as Wistron, Foxconn and Pegatron are all set to start manufacturing in India. All are seeking to tap the potential of Indian market and diversify supply chains and reap the benefits of manufacturing incentives offered by New Delhi. Furthermore,
as per reports, 16 electronics manufacturers have investment plans in India under New Delhi’s ambitious production linked incentive (PLI) scheme to boost manufacturing. Foxconn is moving in next door to Salcomp and recently, Pegatron announced a $150m investment for its new India unit at a soon to be announced location.
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