Monday, June 27News That Matters

Electronics production in India to reach $300 bn by 2026: Report

NEW DELHI: Indian can reach $300 billion worth of electronics manufacturing and exports by 2025-26 — nearly four times from the current $67 billion — if specific product segments with high potential for scale are shortlisted and catered to by way of incentives and policy measures, a new IT Ministry report showed on Monday.
The Vision Document 2.0, prepared by the Ministry of Electronics and Information Technology (MeitY) and presented by the India Cellular & Electronics Association (ICEA), emphasised that such products segments cover mobile phones, Information Technology hardware (IT hardware), consumer electronics, wearables and hearables, LED lighting, electronic components in electric vehicles (EVs) etc.
“To witness India’s top ranking globally in the electronics industry, we need tactical and strategic steps for each product line and supportive directions to our domestic players/Indian champions to meet our Prime Minister Narendra Modi’s ‘Aatmanirbhar Bharat’ vision,” ICEA Chairman Pankaj Mohindroo said.
The electronics manufacturing industry had grown from $37.1 billion in 2015-16 to $67.3 billion in 2020-21. However, Covid-19 related disruptions impacted the growth trajectory in 2020-21 and led to a decline in the manufacturing output to $67.3 billion. — Agency

 

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