Union Budget 2022 to truly make India a digital-enabled and an Atmanirbhar economy, says Xiaomi – Times of India

NEW DELHI: Smartphone giant Xiaomi has welcomed Union Budget 2022. In a press statement, the company said that the Budget 2022 will further power India to become digital-enabled and Atmanirbhar economy. “The budget 2022 announced today will truly make India a digital-enabled and an Atmanirbhar economy. The initiatives aimed at driving innovation and manufacturing are a great impetus towards aiding the boom of the electronics and telecom industry of the country – helping promote economic growth, create jobs.”
The statement lauded the 5G spectrum announcement made by the finance minister Nirmala Sitharaman during the Budget. “We are excited about the government’s commitment to roll out 5G by 2023, which will head into a new year of interconnected devices, making India future-ready. In addition, the scheme for design-led manufacturing to build a strong ecosystem for 5G, will further boost local innovation in the domain.”
The company said that it has been one of the early adopters of the Prime Minister’s Make in India Initiative. “While we have been ramping up on local manufacturing, since 2021, we have been focusing on locally sourcing components like camera sensors, batteries etc. We are also working actively to localise manufacturing of wearables & hearables in the country to further strengthen our local manufacturing.”
“The duty concession on electronic components along with PM Gati Shakti to strengthen multi-nodal connectivity plans are much appreciated. Duty concession will further strengthen local manufacturing and PM Gati Shakti will increase the supply chain efficiency respectively, especially post the supply chain challenges witnessed in 2021,” the statement further added.