GDP growth rate exceeds that of the UK! India is fully committed to developing high-end manufacturing: speeding up the localization of mobile phones and new energy vehicles

An increase of 6.7%! India's 2022 gross domestic product (GDP) is released, surpassing its former suzerain, the United Kingdom, to become the fifth largest economy in the world.

Huang Yinghong, a professor at India’s Jindal Global University, told CBN reporters that compared with surpassing the UK, the Indian academic community pays more attention to the significance of entering the “top three in the world”, because in a sense, India’s comprehensive national strength will also enter the world through this. top three.

In order to continue to expand economic development, they are now promoting the "Make in India 2.0" plan, focusing on the development of advanced chemical batteries, electromechanical products, automobiles, pharmaceuticals, telecommunications networks, textile products and technologies, food manufacturing, solar technology, white goods and special steel and other top ten manufacturing industries.

Foxconn, Wistron and Pegatron have invested heavily in India as the Indian government encourages smartphone makers to shift more production to India. Prior to this, India's Minister of Commerce and Industry Piyush Goyal said that Apple was seeking to produce 25% of iPhones in India.

On February 1, India announced that it would increase tariffs on imported cars and motorcycles (including electric vehicles) to promote the development of local manufacturing and in response to their "Make in India" campaign.