The Prime Minister's 'Make in India' focus has come at the right time. Yes, China does have an advantage when it comes to the ecosystem but the world will have to look at an alternative destination.
We believe India holds great potential, with a number of international brands entering the country and large domestic demand also being there.
I hope the government will adopt a carrot rather than a stick approach for India's burgeoning smart devices market by encouraging and supportive rules and regulations to expedite the ecosystem creation in India, which is essential for smart device manufacturing.
Friendly policies including tax holidays, interest subsidies etc., will help revive a segment that has the potential to create more than a million jobs in India and bring billions of dollars in foreign currency.
In addition, global standards of electronics are going up. Hence, proper skill development of manpower is of utmost importance. Failing to do this will make it difficult for smartphone makers to provide the latest technology at competitive prices, which is pivotal for Digital India's success.
We think it is imperative that the government provides a fillip to manufacturing within the country by making its policies directly competitive and benchmarked with China, including treatment of intellectual property rights.
The smartphone industry is growing by leaps and bounds, and the adoption is expected to continue at a fast pace with annual growth of around 40 per cent, with more than 200-225 million consumers using smartphones.
Local manufacturing is pivotal for the growth of handset manufacturers and it will help us to improve the design and propel research and development of products to suit the domestic requirements and demands of the Indian market.
The Finance Minister has hinted at his goal to achieve 8-9 per cent growth and we aim to provide him as much support as we can as an Indian company doing our bit by empowering every Indian with globally competitive smart devices that increase their output and productivity both in personal and professional capacities.
I would also want to wish the finance minister good luck for the upcoming Budget plans and thank him for showing sincerity and commitment to kick-start our economy and make a competitive environment in our country.
(The author is Chairman, Micromax Informatics)