India emerges as top priority for global tech titans over China

In recent times, India has been making significant strides in the global tech manufacturing arena, with the introduction of Google's Pixel 8 manufacturing in the country.

By:ANI
| Updated on: Nov 05 2023, 09:41 IST
Google Pay launches 5 new lending products for consumers and merchants in India; Know them all
global tech manufacturing
1/6 At the Google for India 2023 event, the tech giant announced multiple India-centric announcements, ranging from AI, online safety, accessibility to small businesses, to Pixel phones. Google also launched 5 different lending products in India for both consumers and merchants by collaborating with banks and NBFCs. These credit services are aimed at addressing the credit gap in India. (Shaurya/HT Tech)
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2/6 Earlier this year, Google Pay added the facility to add Rupay credit cards to the app, and using them to seamlessly make payments via UPI.  Extending this functionality further, in collaboration with its PSP ICICI Bank, users can now avail credit lines from banks on UPI, and use it to make payments via Google Pay in the same way that they would with a UPI payment.  (Shaurya/HT Tech)
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3/6 Personal loans have been available on Google Pay for the last few years in collaboration with its partner DMI Finance. This portfolio is expanding with Axis Bank making its personal loans available on Google Pay, with more partners to follow shortly.  (Shaurya/HT Tech)
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4/6 Expanding the portfolio of merchant loans: On the merchant side, Google announced its new partnership with ICICI Bank and seamless repeat loans powered by Indifi.  (Shaurya/HT Tech)
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5/6 Merchants often require smaller ticket loans and simpler repayment options. To address this, Google Pay is enabling on its platform, sachet loans in collaboration with DMI Finance. These start as low as Rs. 15000 and can be repaid with easy repayment options starting at just Rs. 111. This offering is aimed at bringing ease and convenience to SMBs.  (Shaurya/HT Tech)
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6/6 Google Pay is enabling a credit line for merchants in partnership with ePayLater. This product will help solve the working capital requirements of merchants. Merchants can use this line across all online and offline distributors to buy their stock and supplies and grow their business.  (Shaurya/HT Tech)
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Google's move aligns seamlessly with the broader trend of global tech giants, including Apple and Samsung, expanding their manufacturing operations in India (Pixabay)

 In recent times, India has been making significant strides in the global tech manufacturing arena, with the introduction of Google's Pixel 8 manufacturing in the country. This development marks a pivotal moment in India's journey toward becoming a top-notch manufacturing hub for cutting-edge mobile technology, The Washington Times reported.

Google's move aligns seamlessly with the broader trend of global tech giants, including Apple and Samsung, expanding their manufacturing operations in India, solidifying the nation's role in the global supply chain.

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For instance, Apple has been assembling iPhones in India, a strategy that has proven mutually beneficial. This localization not only enables Apple to meet local demands efficiently but also mitigates the impact of import duties. Similarly, Samsung has established the world's largest mobile phone manufacturing facility in India, showcasing the nation's capacity to cater to the production needs of global tech giants, The Washington Times reported.

Alphabet Inc's Google decision to manufacture its flagship Pixel 8 smartphone in India underscores the growing allure of the country as a manufacturing destination. Google has emphasized India as a priority market for Pixel smartphones, expressing its commitment to delivering the best of its hardware and software capabilities to the Indian populace. This move by Google is part of a broader shift in the global supply chain dynamics, particularly from China to India.

The transition in supply chain dynamics is evident, with a report revealing a remarkable 400% increase in U.S. and European greenfield investment in India between 2021 and 2022, while investments in China decreased significantly during the same period. India is positioning itself as an appealing alternative for sourcing due to disruptions caused by policies like China's Belt and Road Initiative, which has led to a shift that could potentially cost the Chinese economy trillions by 2030.

In contrast to China, India's democratic environment provides a stable and trusted setting for global supply chains. The involvement of tech giants such as Apple, Google, and Samsung in India's manufacturing landscape is a clear endorsement of the nation's emerging prominence in high-quality tech manufacturing. The 'Make in India' initiative is acting as a catalyst, opening doors for these tech giants to explore the myriad opportunities India offers, The Washington Times reported.

The resonance between India's manufacturing capabilities and global tech giants not only enhances the country's economic prospects but also solidifies its strategic position in the global supply chain. It's a mutually beneficial scenario where companies can leverage India's skilled workforce and favorable policies, while India benefits from technological advancements and economic investments.

As India continues on this trajectory, the ripple effects are expected to reverberate through the global supply chain, heralding a new era of high-quality tech manufacturing firmly rooted in Indian soil. Google Pixel 8's manufacturing journey is just the beginning of the monumental shifts awaiting the horizon of global tech manufacturing, The Washington Times reported. 

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First Published Date: 05 Nov, 09:41 IST
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