Nov 22, 2016 - Here's how RBI saved the rupee from wild swings

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Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
India is set to manufacture $80bn worth of mobile phone components in the next decade. The contribution of domestically manufactured mobile phones has increased from 14 per cent in 2014 to 67 per cent in 2016 and is further estimated to reach 96 per cent by 2020. However, 67 per cent of the handsets manufactured in India contribute to just 6% of the true local value addition with most of the OEMs still importing Semi Knocked Down components (SKDs).The manufacturing is however moving up the value chain as domestic demand increases. This has the potential to create over a million skilled jobs in the next decade. The government could help speed things along in other sectors by encouraging FDI where domestic demand is a driver.

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