Home-bred handset maker Micromax will invest Rs 500 crore towards manufacturing and research and development (R&D) as it plots a comeback in India's smartphone market, backed by the government's incentive scheme…Micromax, which at its peak in 2014 rose to No. 2 in smartphones, has practically been wiped out of the market by the Chinese onslaught, which began to take shape in 2016.

(Economic Times, August 14)

Shilpi Jain's key takeaways:

The new PLI scheme will be a big help for local brands like Micromax to compete more effectively with the Chinese on the pricing front.
We could also see more component players coming to India as other brands work to increase local contribution.
Long term, we could see a complete ecosystem of connected devices being launched.
Bigger picture, PLI could become a key driver of exports as more brands set up production bases in India.

Here&#039;s How Micromax Co-Founder Rahul Sharma Plans to Beat Chinese Rivals

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Here's How Micromax Co-Founder Rahul Sharma Plans to Beat Chinese Rivals