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India is now becoming a self-reliant:
PM Narendra Modi started the self-reliant India campaign 2 years ago, and the impact of the campaign in India has broken all the records on the export front in just two years, Waving the flag in the field of exports, India has set a new record by exporting 418 billion dollars in the year 2021-22. PM Modi talks about five important pillars in the “Mann ki Baat” program which is Which was broadcast on All India Radio(AIR). And it’s very important for a self-reliant India.
The economy of the country: This is the first pillar of self- reliant. PM Narendra Modi said that our government’s endeavor is towards building an economy that brings a jump in quantity rather than incremental change.
Infrastructure: This is the second pillar, PM Modi talk about this pillar, and they told that infrastructure should be world-class. This becomes the identity of modern India.
Technology: The Prime Minister focused on a technology-driven system that can fulfill the dreams of the 21st century; a system not based on the policy of the past century.
Demography: PM Modi termed India’s spirited human ecology because of the country’s strength. PM Modi said that it is the main energy for a self-reliant India.
Demand: And last but not least the fifth pillar, PM Narendra Modi said the cycle of demand and supply chain in the country's economy, is the strength that needs to be harnessed to its full potential. He said, “To extend demand within the country and to satisfy this demand, each stakeholder in our offer chain has to be authorized. we'll strengthen our offer chain, our offer system designed up with the smell of the soil and therefore the sweat of our laborers.”
The achievement has been attributed to the better performance of petroleum products, engineering, gems jewelry, chemical, and pharma sectors. In, 2018-19 which is pre covid-19 years, it will be completed this figure was $ 330 billion, while in the year 2020-21, $292 billion was exported. Commerce Minister Piyush Goyal has expressed confidence in continuing this success even further. I think, just like this, now India's economy is busy breaking records on record.
And now the people of India are making the impossible possible. They do work day and night for this. The whole government should work in unison. All our stakeholders, If people from different sectors focus their efforts on one goal, then no work is difficult and no work remains impossible. According to the latest data, a total of $ 40 billion was exported from the country in March, which is the highest level of exports in any single month.
Before this, goods worth $ 34 billion were exported in March 2021. Among the countries that were exported the most since last year, America has been number one followed by United Arab Emirates, China, Bangladesh, and the Netherlands. Experts believe that the way the deal has now been signed with Australia, the performance of the gemstone and jewelry sector is expected to be much better in the coming times.
Despite this success, there is some concern among economists about the future. He warned that the growing economic uncertainty from the Russia-Ukraine crisis could further widen the trade deficit. This could further widen the current account deficit. Oil prices are expected to remain high in the international market. Supply chain breaks and other freight costs can also slow down the pace of exports.
India becoming the best place for iPhone manufacturing:
Apple's best and latest iPhone 13 will now be made in India. Its production work is started in full swing. After the manufacturing of the iPhone 13 started, workers are getting it done at Foxconn's plant, the world's largest contract manufacturer. Not only this, one of the world's largest companies is manufacturing all top-selling models apart from iPhone 13, locally in India through its two contract manufacturing partners Foxconn and Wistron.
Apart from this, Apple's third partner Pegatron will also have to start production this month. Well, it will start with the production of the iPhone. As far as the specialty of the iPhone is concerned, the iPhone came with 5g connectivity, and also an A15 Bionic chipset available in this phone. The display of this smartphone will be with an OLED panel. The body of the phone will be aluminum. The smartphone will get 128 GB 256 GB and 512 GB storage.
Apart from this, the smartphone will have a dual rear camera setup with LED flash. This smartphone will have a 12-megapixel wide camera system along with a 12-megapixel true depth camera. Apart from this, you will also get to see a long-lasting battery in this phone. Apple iPhone's journey in India started about 20 years ago. Apple made its online debut in September 2020, and the company has expressed its commitment to expanding business in the country.
Apple started manufacturing its handset in April 2017 along with the iPhone SE. At present, iPhone 11, iPhone12, and iPhone13 models are made in India, However, iPhone13 is not yet produced in India. As far as the world's largest contract manufacturing company Foxconn is concerned, which is the world's largest electronics company, and is also a major supplier to Apple.
Not only has this, in the last few years, but the company also expanded its scope in the electric vehicles segment and areas like semiconductors. Foxconn being in India and Apple products being made in India not only create employment opportunities in the country. At the same time, it also gives a strong identity to India in the world.
India becoming a most popular country for startups:
There is a tremendous boom in the startup structure of the country. This area, which has felt its power during Corona, is giving a strong performance in every kind of environment. According to PricewaterhouseCoopers(PwC), 14 new startup unicorns have been created in the country from January to March. With this, now a total of 84 startups unicorns have become in the country.
Unicorns are those companies whose valuation is more than 1 billion dollars. During this period, startup companies have received an investment of INR 76,000 crores from 334 orders. According to PwC, this is the third consecutive quarter that domestic startups have received investments of more than INR 70,000 crore, mostly only SAAS companies have received such kind of funding, which has been $ 3.5 billion. majorly five Unicorn have made from SAAS companies.
So Unicorn has also become the most accessible. According to the report, 80 deals between mergers and acquisitions took place between startups from January-March. In this, the share of e-commerce companies was 38%. The share of companies from the direct to consumer sector stood at 22%. In the last three months, the amount of $ 6.5-7 billion has been received by those companies which have been present in the growth phase.
According to PwC, despite the global uncertainty, domestic startups have been able to raise money and this money has especially gone to those companies which are currently growing. In such a situation, more startups will take a strong step toward Unicorn.
Conclusion:
We hope you liked our article “India is now becoming the self-reliant| No. one country for startups all over World”. Experts believe that keeping pace with the new-age business and becoming digitally versed is making startups perform well. Equally, this sector will also grow, due to which ultimately the economy of the country will see a boom.
With the maturity of the company, it has now also come under the ambit of corporate governance. In such a situation, this sector will now be able to grow more organically. We are always excited when our blog posts can provide useful information for you. If you have any questions or any suggestions, please reach out to us at www.tradeipohub.co.in.Thanks for reading.