PM Modi's I-Day 2021 Speech: PM addressed the nation from the Red Fort .
India used to import mobile phones worth USD 8 billion seven years ago and now the country is exporting such devices worth USD 3 billion while reducing imports significantly, Prime Minister Narendra Modi said on Sunday.
Addressing the nation from the ramparts of the Red Fort on the occasion of India's 75th Independence Day, PM Modi said the government has announced a production-linked incentive scheme to further the flagship ''Make in India'' mission.
"Electronic manufacturing sector is an example of the change that the scheme is bringing. Seven years ago we used to import mobile phones of approximately USD 8 billion. Now imports have reduced. Today, we are exporting mobile phones worth USD 3 billion," he said.
The Ministry of Electronics and IT has cleared 16 proposals from domestic and international companies entailing investment of Rs 148 billion under the production linked incentive (PLI) for global majors as well as domestic companies.
The prime minister said as the country's manufacturing sector is advancing, "we should focus on making best quality products that can stand in the global market".
"We have to target the global market. Your (manufacturers) product is the brand ambassador of India. Till the time it is in use, its user will proudly say this product is Made in India. This temperament is required," PM Modi said.
He said that thousands of start-ups have emerged during the tough time of corona and start-ups are becoming unicorns.
"Their market value is touching thousands of crores. They are new kinds of wealth creators in the country. They are standing on their own with the power of their unique idea. They are marching forward. In this decade, we need to work to make the Indian start-up ecosystem the best," the prime minister said, assuring "the government is standing behind them with full vigour".