India has released a roadmap for becoming a $300-billion electronics manufacturing centre. The Ministry of Electronics and Information Technology (MeitY), in association with India Cellular and Electronics Association (ICEA), released its vision document, ‘USD 300 bn Sustainable Electronics Manufacturing & Exports by 2026.’
"This report provides a year-wise break-up and production projections for the various products that will lead India's transformation into a USD 300 billion electronics manufacturing powerhouse, from the current USD 75 billion," read the release accompanying the document.
The government plans to undertake this massive exercise through what it calls the "all of the government" approach. The five-part strategy will focus on both broadening the base of manufacturing while also deepening the manufacturing capabilities for electronics in India. The importance of scale, attracting global players, and supporting the value-addition ecosystem are some of the key ways to achieve this.
Rajeev Chandrasekhar, Minister of State, Electronics & IT and Skill Development and Entrepreneurship, said MeitY will be focusing to act on building India into a trusted value chain partner.
The growth in the electronics manufacturing industry would benefit both exports as well as the domestic market. The country is already expected to increase its electronic manufacturing capability to nearly $180 billion the next five years.
"Amongst the key products that are expected to lead India's growth in electronics manufacturing include mobile phones, IT hardware (laptops, tablets), consumer electronics (TV and audio), industrial electronics, auto electronics, electronic components, LED lighting, strategic electronics, PCBA, wearables and hearables, and telecom equipment. Mobile manufacturing, that is expected to cross USD 100 billion annual production -- up from the current USD 30 billion -- is expected to constitute nearly 40 per cent of this ambitious growth," it added.
Also read: Boosted by localisation, Indian electronics mfg sector to touch Rs 7 lakh crore next fiscal
(Edited by : Shoma Bhattacharjee)
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