A source in the ministry said that India’s electronic manufacturing is likely to reach around USD 250 billion in the next 5 years.
With an aim to address the issue of unemployment, the Indian government is also planning to create jobs in the electronic manufacturing sector.
Currently, 25 lakh people are employed in electronic manufacturing.
What Chinese smartphone maker seeks to achieve with JVHowever, the government has targeted to double the jobs in the electronic manufacturing sector from 25 lakhs to around 50 lakh jobs in the next five years.
— ANI (@ANI)“Our focus remains the same on providing services to digital technology, our focus remains on getting large-scale electronics manufacturing.
Written by : Sarmeeli Mallick Updated Jun 15, 2024 | 10:12 PM IST With an aim to address the issue of unemployment, the Indian government is also planning to create jobs in the electronic manufacturing sector.
According to sources in the Ministry of Electronics and Information Technology, the Indian government is likely to double electronic manufacturing in the country in the next five years, creating massive job opportunities.
A source in the ministry said that India’s electronic manufacturing is likely to reach around USD 250 billion in the next 5 years. The current electronic exports of the country stand at USD 125-130 billion.
With an aim to address the issue of unemployment, the Indian government is also planning to create jobs in the electronic manufacturing sector. Currently, 25 lakh people are employed in electronic manufacturing.
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However, the government has targeted to double the jobs in the electronic manufacturing sector from 25 lakhs to around 50 lakh jobs in the next five years.
— ANI (@ANI)
“Our focus remains the same on providing services to digital technology, our focus remains on getting large-scale electronics manufacturing. Those focus remain exactly and those target goals will only get accelerated" said Ashwini Vaishnaw Minister for Electronics and Information Technology.
The sources highlight that India is already transitioning from import substitution to Aatmanirbhar (self-reliance) and becoming an export-led manufacturer in certain segments, like mobile phones. For laptops, India is still in the phase of becoming Aatmanirbhar.
The Indian government is actively promoting domestic electronic manufacturing through various incentive schemes and the financial outlay of Rs 760 billion provided by the PM Modi-led government shows their commitment. India's per capita electronic consumption is one-fourth of global consumption.
China and Hong Kong, in terms of imports, account for a significant portion, representing 44 per cent and 16 per cent respectively, of the total electronic imports by India.
On the other hand, mobile phones and Electronic Control Units (ECUs) dominate India's electronic exports. In this, the United States and the UAE have emerged as the largest export destinations, collectively absorbing a substantial share of electronic products manufactured by India.
Experts believe the electronicmanufacturing sector in India is going through a transition, and the nation's position as a global electronics manufacturing hub is poised to strengthen, driving economic development, job creation, and technological innovation across the country.
With a view to position India as a global hub for electronic manufacturing, the government has announced various schemes including the Production Linked Incentive Scheme (PLI) for Large Scale Electronics Manufacturing, Production Linked Incentive Scheme (PLI) for IT Hardware, Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) and Modified Electronics Manufacturing Clusters Scheme (EMC 2.0).
Besides, the government has also introduced the Semicon India Program with an incentive outlay of USD 10 billion with the vision to develop a sustainable semiconductor and display ecosystem in the country. This program will establish India as a global hub for semiconductor and display manufacturing.
(WIth agency inputs)
