Introduction
Recently, India made a bold move by imposing import restrictions on laptops and tablets. While this step has been criticized by many, it has received significant local praise from electronic manufacturing experts. India has been aiming to become a self-sufficient country in producing electronic devices for a long time. This new policy, which is a part of the governments Make in India campaign, seems to be a significant step toward achieving that goal. In this blog post, we will explore the reasons behind this move and why it has been praised by electronic manufacturing experts.
Boosting Domestic Manufacturing:
Indias new import restrictions have been praised by local experts as it is expected to boost domestic manufacturing of electronic devices. India has a sizable electronics market, and almost 90% of the electronics are imported from countries like China. By imposing tough import restrictions, the government is endeavoring to encourage domestic companies to start producing electronic devices in India. This move will help in reducing the reliance on imports and boost the countrys self-sufficiency.
Creating Jobs
Another significant benefit of Indias new import restriction policy is the creation of new jobs. When electronics are imported into the country, the manufacturing jobs go to those countries. However, when electronics are produced locally, it creates job opportunities for locals. Experts predict that the policy will help India create more than 100,000 jobs within the next few years. This new job creation will help to boost the economy of the country, which was hit hard by the Covid-19 pandemic.
Benefit to Local Startups
Local startups in India will be the significant beneficiaries of the new import restriction policy. Previously, these startups were unable to compete with multinationals as they couldnt match their prices. But with the new policy, local firms will now be in a better position to compete, as the playing field will be leveled. This will help local startups to gain further traction in the market, helping to grow and expand.
