And for a Friday as Made-in-India iPhone16 is being launched globally, some thoughts….. some musings…..
It’s undoubtedly a proud moment for India. Start of a great success story, as Apple’s choice of India as a second manufacturing base on China plus 1 strategy has fructified. The Foxconn factory and the entire growing electronics Eco system is a true testimony to the growing potential of India as an electronics manufacturing hub. Apple iPhone manufacture in India already has given 1.56 lakh direct jobs and many times over in indirect and services oriented economic opportunities. Apple produced about 14 Bn $s worth of iPhones of which more than 10 Bn $s is exported. They expect a growth of 26% in the next two years. High tech manufacture has been greatly incentivised which augurs well for India and will help position the country at the forefront of the changing Global business landscape. Tata Electronics has already commenced plant installation for a Chip manufacturing facility in Morigaon in Assam with an outlay of 27,000 crores. Dutch conglomerate NXP Semiconductors is doubling its R&D in India with a spend of One Bn $s. The Dutch company highlights three critical elements in India – innovation, democracy and trust and more than 75% of Fortune 500 companies already have R&D in India.
India has to not only be in high tech but also equally focus on large labour intensive industries. With more than 58% of its working labour population involved with Agriculture related activities, but contributing less than 16% of GDP, the real challenge and opportunity is in Up-Skilling the rural labour and finding appropriate jobs in value enhancing yet labour intensive sectors like Textiles, Leather, Construction, Agri processing, foods and absorbing into the services sector away from big cities into tourism, adventure sports, hospitality, cultural and rural based unique SMEs in handicrafts – the “One-District-One-Product Approach”.
India has to fire on all cylinders in Services and Manufacturing. From High Tech Chip design to low skill labour intensive jobs. Let’s add to this momentum, the involved way, the innovative way, the SEEGOS way.