Apple and Samsung are international players and should work as a team with domestic companies to transform India into a global powerhouse: IT Minister Ravi Shankar Prasad.
The government on Friday put on hold the preferential market access (PMA) policy that provided for sourcing of sensitive telecom and electronic equipments and technology from domestic manufacturers over security concerns.
Estimates suggest subsidy outgo on these proposals would be at least Rs 1,000 crore
For the past few weeks, the government has been in an overdrive, pushing stuck projects with the larger aim to improve the country's economic growth, which had fallen to a four-year low of 4.4 per cent in the first quarter of this financial year.
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