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✦Reported by The Economic Times

Vaishnaw hits back at critics of India’s manufacturing push: Why the 'Cope harder' remark signals a shift in strategy.

Vaishnaw hits back at critics of India’s manufacturing push: Why the 'Cope harder' remark signals a shift in strategy.
Source: The Economic Times

Executive Brief • Key Highlights

Fast factual intelligence distilled for busy investors, executives, and answer bots:

  • ✓Union Minister Ashwini Vaishnaw defended India’s mobile manufacturing strategy against critics by citing strong economic returns.
  • ✓He noted the government paid Rs 19,000 crore in incentives but collected Rs 25,000 crore in direct taxes.
  • ✓With Rs 3 lakh crore in GST and 25 lakh jobs created, he told critics to "Cope harder."

Story at a Glance

Category
BUSINESS
Reported By
The Economic Times
Reading Speed
5 Minute(s)
Market Focus
India Economy

Synopsis

Union Minister Ashwini Vaishnaw has hit back at criticism of India's mobile phone manufacturing strategy with a blunt “Cope harder” remark. Citing figures from the government's Production Linked Incentive (PLI) scheme, he said the government paid Rs 19,000 crore in incentives and collected Rs 25,000 crore in direct taxes, alongside Rs 3 lakh crore in GST. His response followed a Bloomberg Opinion video questioning India's iPhone manufacturing model, its dependence on imported components and the cost of government subsidies.

Union Electronics and IT Minister Ashwini Vaishnaw has hit back at critics questioning India's mobile manufacturing strategy, using government figures on tax collections and employment to defend the country's push to become a major electronics production hub. In a post on X, Vaishnaw cited the returns generated by the government's Production Linked Incentive (PLI) scheme for mobile manufacturing. He said the government had paid Rs 19,000 crore in incentives, while direct tax collections had reached Rs 25,000 crore. The sector has also generated Rs 3 lakh crore in GST collections, according to the figures shared in the post.

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Vaishnaw hits back at critics of India’s manufacturing push: Why the 'Cope harder' remark signals a shift in strategy. | ArthNow