Finance
By: Shree1news, 16 FEB 2021Shri Ravi Shankar Prasad, the Union Minister for Electronics & Information Technology, Communications and Law &Justice, today held a virtual meeting with Amit Agarwal, Amazon’s Global Senior Vice President and Country Head for India. Range of issues related to digital sector were discussed during this meeting. After this meeting Amazon India has made an announcement to start manufacturing of electronics products from India. To begin with, Amazon is going to start manufacturing of Amazon Fire TV stick from India.
Speaking on the occasion Shri. Ravi Shankar Prasad, Minister for Communications, Electronics & Information Technology and Law & Justice, Government of India said “India is an attractive investment destination and is poised to become a major player in the global supply chain in the electronics and IT products industry. Our Government’s decision to launch a Production Linked Incentive (PLI) Scheme has received tremendous response globally. We welcome Amazon’s decision to set up a manufacturing line in Chennai, as it will enhance domestic production capacities, and create jobs as well. This will further our mission of creating an AatmaNirbhar Bharat which is digitally empowered.” Minister also mentioned that it is only a beginning for Amazon’s efforts to manufacture electronics products from India for India and export markets.
Amazon will commence its manufacturing efforts with contract manufacturer Cloud Network Technology, a subsidiary of Foxconn in Chennai and start production later this year. The device manufacturing program will be able to produce hundreds of thousands of Fire TV Stick devices every year, catering to the demands of customers in India. Amazon will continuously evaluate scaling capacity to additional marketplaces/cities depending on the domestic demand.
India has taken several key steps to encourage electronics manufacturing in India. The Production Linked Manufacturing (PLI) for Large Scale Electronics Manufacturing has emerged as a major success with many international companies commencing production of electronics goods from India. Entry of Amazon in this sector adds to the success story of electronics manufacturing in India.
IT Minister wrote on Koo- “Under the leadership of PM Narendra Modi, electronics manufacturing in India has recently attracted some of the biggest investments from global giants. Happy to share Amazon India is the latest to join this success story of India.”
https://www.kooapp.com/koo/RaviShankarPrasad-J1VB/CDKEH
Shri Prasad asked Amazon India to help in taking products made by India’s artisans and Ayurvedic products to global markets through eCommerce Platform. He said, “Amazon is a global company but Amazon India must evolve as a truly India company deeply connected with Indian business community and culture.”
Source:PIB
