PM backs Make in India for chips, mobiles, electronics

Prime Minister Narendra Modi on Wednesday renewed his pitch for Make in India across sectors, from mobiles to semiconductors and electronics, saying the government is accelerating the pace of reforms, offering the best investment opportunities.

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Speaking at the inauguration of India Mobile Congress, he said India's democratic setup, the government's welcoming approach and ease of doing business policies have helped the country attain an image of an investor-friendly destination.

"This is the best time to invest, innovate and make in India," he said.

Modi said he had announced on 15 August that this year would be a year of big changes and big reforms. "We are increasing the pace of reforms," he said, without elaborating.

Just last month, goods and services tax (GST) rates were rationalized, making commonuse items from shampoo to television sets cheaper.

India, he said, offers immense opportunities in the manufacturing of semiconductors, mobiles, and electronics.

Industry, innovators and startups need to step up now, he said.