Mobility Magazine Wishes Make In India will Reach a New Level in FY 2023-24
Dear Readers,
Hope you all enjoyed Holi and Maha Shivaratri!
The Union Budget 2023-24 with reductions on key imported components needed in mobile phones and TVs is set to boost the domestic manufacturing of these products. Concessions on Li-ion batteries is set to accelerate EV manufacturing and EV vehicles. The exemption of customs duty on the import of capital goods and machinery is expected to drive all other segments of mobility industry. The budget’s focus on reskilling the youth on the latest tech: AI, IoT, Mechatronics, Robotics etc, is set to improve the employability of the youth and drive economic growth.
The state of focus for Make in India for this month is Bihar, which currently has 68 industrial areas and mega industrial parks. The state has identified Food Processing, IT & Electronics, and Textiles & Leather as its high priority sectors. India’s first electric locomotive manufacturing facility, opened as a JV between Alstom and the Indian Railways, launched its first electric locomotive engine in 2018.
With Bihar, rich in natural resources and inexpensive labor force, embracing manufacturing in a big way and the government undertaking adequate measures, in about a decade, the state could catch up with the rest of the country in economic strength and go beyond.
If you have an interesting Article / Report/case study to share, please get in touch with us at editors@roymediative.com/ roy@roymediative.com, 9811346846/9625243429.
