We are manufacturing for the world: boAt co-founder Aman Gupta at IES 2024
India Economic Summit : At the fourth distinguished edition of Republic Media Network's India Economic Summit , boAt Lifestyle co-founder and marketing chief Aman Gupta shared how manufacturing ecosystem in India boomed, giving impetus to the eletronics industry, thanks to various government sops, such as the product incentive-linked (PLI) scheme, Start Up India, and Make in India.
He highlighted that everyone wants to manufacture in India now, referring to how foreign companies have turned their focus to the country from China – a global hotspot for electronics manufacturing.
“Not just us, Apple was getting its products manufactured in China,” he said, pointing out that even the iPhone maker has doubled down on its investment in India's production ecosystem.
The historic event is a beacon of India's economic growth and brings the country's sharpest minds together to discuss the inspirational path to becoming a $50 trillion economy by 2047.
Union Finance Minister Nirmala Sitharaman graced the event as the chief guest.
At the same time, other visionaries like Niti Aayog CEO BVR Subrahamanayam, National Stock Exchange CEO and MD Ashish Chauhan, and Patanjali co-founder Baba Ramdev were also present.
Contributing to the visionary theme of 'Viksit Bharat Bullseye' of one of the world's most prestigious business events, Gupta, in a fireside chat, saidboAt Lifestyle co-founder and CMO, Aman Gupta on 'Get on the boAt' LIVE:We started out of a cafe in Delhi to create the brand.
It is a very good thing happening in India that entrepreneurship is celebrated in the country.
When I started the company, government jobs were all the rage, but ever since private jobs boomed, the economy changed.
People are joining startups and they do not mind starting up.
Elon Musk is celebrated so can we.
People from rural areas want to be job creators.
When we started, there were not many audio brands in India.
Sure, Chinese, Japanese, and German were there.
But, we changed that.
People started accepting Indian brands across industries.
Industry by industry, Indian brands have flourished and started doing so well.
We are manufacturing for the world.
People are ready to manufacture in India.
They are ready to open factories.
The government encouraged us and said “Why don't you make in India?”Earlier, we did not know how to manufacture in India, but now we are happy doing it.
We have created 10,000 indirect jobs in India.
Money is not a problem today.
Look at the Zepto guys.
Its founder is 21 years old, but the whole world is running after them, saying “take our money.
”India Economic Summit 2024In addition to the FM Sitharaman and boAt co-founder Gupta, the event will also see the participation of other industry leaders, including Info Edge's founder Sanjeev Bhikchandani, Policybazaar.
com's MD Sarbvir Singh, Mercedes-Benz India MD Santosh Iyer, Ducati India MD Bipul Chandra, JSW MG Motor India CEO Emeritus Rajeev Chaba.
Held at the Republic Media Headquarters -- Asia's largest newsroom centre, the Indian Economic Summit has become a landmark event that gathers industry leaders, business magnates, economists, and policymakers under one roof to dialogue on India's future as a global economic powerhouse.
Discussions will delve into transformative ideas around policy innovation, infrastructure development, and inclusive growth to shape a vibrant, self-reliant India.
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