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How I Turned ₹5,000/month into ₹6 Lakhs — My 3-Year SIP Journey
In 2020, I was saving ₹5,000/month with no real strategy. I stumbled into SIPs by chance. Today, that same habit has grown into ₹6,12,000 — and taught me 3 major lessons about compounding, patience, and mistakes I wish I avoided earlier.
📉 What Went Wrong in Year 1
In my first year, I panicked during a market dip and pulled out my SIP investments. That single move cost me potential gains and broke the compounding chain. I learned the hard way that reacting emotionally to market swings is a recipe for regret.
📈 Lesson Learned: Consistency Beats Timing
- Missed rallies by being out of the market
- Lost out on rupee cost averaging
- Peace of mind improved with automation and discipline
🔄 My Portfolio Before vs After
Before (2020)
- Random savings in bank account
- No real investment plan
- Low returns (2-3% p.a.)
After (2023)
- Disciplined SIPs in diverse mutual funds
- Portfolio value: ₹6,12,000
- Average returns: 13-15% p.a.
🧠 What I’d Do Differently If Starting Again
If I could start over, I’d set up my SIPs and forget about the daily market noise. I’d diversify a bit more, avoid panic-selling, and trust the process. Most importantly, I’d start even earlier — because time is your biggest ally in compounding.
PLI scheme: Apple’s three Indian contract producers – Foxconn (Hon Hai), Wistron (now owned by Tata group), and Pegatron – alongside Samsung from South Korea and home electronics firm Dixon Applied sciences are slated to obtain over Rs 4,400 crore in incentives for reaching targets in FY23 by India’s production-linked incentive (PLI) scheme for smartphones.Nonetheless, officers conversant in the main points informed ET that on account of a few of the chosen firms not assembly manufacturing targets outlined within the scheme, the initially deliberate outlay of Rs 6,504 crore for FY24 won’t be absolutely used. Corporations obtain incentives a yr after assembly targets. Corporations exceeding targets could declare extra advantages from the unclaimed quantity by corporations failing to fulfill targets.Rising Star (Bharat FIH), a smartphone contract producer for China’s Xiaomi, has failed to fulfill the goal because the inception of the PLI scheme in FY21 and is prone to proceed this pattern in FY23 as nicely.ALSO READ | ‘Make in India’ increase! Airbus awards contract to Dynamatic Applied sciences for manufacturing A220 plane doorsIndian firms like Lava and Optiemus Electronics, which haven’t met PLI targets, are unlikely to obtain incentives, officers mentioned. The smartphone firms talked about within the report didn’t reply to emailed queries despatched by the monetary day by day.One of many sources talked about that since 4 out of 5 international corporations met the targets in FY23, the disbursement in FY24 would be the highest but underneath the scheme.To this point, the federal government has allotted roughly Rs 2,500 crore underneath the scheme. Of this, Rs 500 crore has been given to Samsung for reaching targets within the first yr, whereas Rs 1,700-2,000 crore has been distributed among the many three contract producers of Apple and Dixon.Samsung has filed claims for assembly targets for the third yr after failing to realize numbers within the second yr of the scheme. The corporate is claiming advantages for the third yr, whereas others are doing so for the second yr. FY23 incentives are for targets achieved within the fiscal yr ending March 31.Inspired by the PLI scheme, cell phone exports reached $10.5 billion throughout April to December 2023. Electronics, which was beforehand ranked ninth in export classes, has jumped to the fifth rank because the scheme’s launch in 2021.ALSO READ | Air India eyes $200 million tech overhaul for hassle-free reserving, real-time updates; to meet up with United Airways & Singapore AirlinesThe India Mobile and Electronics Affiliation (ICEA) predicts cell phone exports to achieve $14-15 billion by the tip of the fiscal yr.The smartphone PLI scheme presents graded incentives within the type of cashbacks, beginning at 6% of incremental gross sales for the primary two years, 5% for the third and fourth years, and 4% for the fifth yr.The general monetary outlay for the scheme was decreased to Rs 38,601 crore over 5 years from the unique Rs 40,951 crore, with the distinction used for the IT {hardware} scheme.To be eligible for advantages, firms like Samsung and Apple’s contract producers should make investments at the very least Rs 250 crore within the first yr and the identical quantity every year for the next three years. Relating to manufacturing, international firms should make extra items (cell phones valued at Rs 15,000 and above) totaling Rs 4,000 crore, Rs 8,000 crore, Rs 15,000 crore, Rs 25,000 crore, and Rs 50,000 crore within the ultimate yr of the scheme.Since its inception in FY21, the scheme underwent revisions on account of most beneficiaries failing to fulfill targets within the first yr, besides Samsung. The scheme’s length was prolonged to 6 years, permitting firms to decide on any 5 years for claiming advantages. For each agency besides Samsung, the scheme concludes in FY26, whereas for Samsung, it ends in FY25. Incentives will likely be settled by FY27.
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