The Make in India program helped a lot of Indians in their business. People opted for local goods instead of foreign goods. This program used as a great opportunity for many Indian tech companies. Micromax, an Indian company came back in the smartphone race using this opportunity. Micromax launched two smartphones which were quite successful.
Now the government of India is planning to invest 20 Billion Dollars to start an LCD panel industry. If this plan comes into action, it would be amazing. The reason is quite simple. Many companies like Micromax, Samsung, and Micromax have started smartphone manufacturing in India. If we could make our own LCD panel in our own country. We can eliminate the taxes on imported displays, hence making the display cheaper. This results in less manufacturing cost of a smartphone which in turn reduces the smartphone’s price.
Planning of LCD Panel
This whole investment plan was introduced by the ministry’s secretary Ajay Prakash Sawhney in an online conference. The reports also reveal that there are plans even for the establishment of 6G lines. It is for LCD panels for mobile devices. Even 8.5G lines are to be established for other applications as well. The demand for LCD panels is high in a populated country like India.
Currently, the annual demand for LCD panels in India has reached 5.4 Billion Dollars. Moreover, This demand could increase and pass 18.9 billion dollars in a matter of just four years. This is an estimation as per data compiled by the Indian Cellular and Electronics Association (ICEA). This project will be pretty beneficial for the country also. It will provide thousands of employment opportunities for people and also increase the yearly revenue. There is more information that is yet to release to the public.