Some points:
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Companies would now require a license to import these goods.
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Government’s intention is to encourage manufacturing locally.
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Although the margins of electronic good manufacturing especially the assembling is lower, the opportunity for the market size to grow is huge. Close to 100 billion dollars. This can also lead to employment opportunities for 5 lac people.
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The stocks which rallied yesterday mainly were dixon, HCL info.
It would be nice if some of you can also share other beneficiaries of this move by the government.
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Overall, this is a strong and positive move for our economy! However, we need to focus on developing high-quality products, especially ensuring that core elements are built from scratch here, supported by a robust framework. Otherwise, we might face similar challenges as other failed Indian startups.
Additionally, we should address our dependence on social media platforms developed outside our country. Take, for instance, the FB-cambridge analytica scandal. They understand that our strength lies in our diversity, but this also makes us vulnerable. Foreign algorithms can easily manipulate us by using cross-religious or political posts to incite extremist actions from both the leftist and kattar factions. It’s high time we take action and start supporting and developing algorithms, like koo, here in India. This will give us more control over our digital landscape and protect us from external manipulation.