‘India’s electronics industry To Be $300 Billion Industry By 2025

Share with Your Friends

‘India’s electronics industry To Be $300 Billion Industry By 2025

Recently Ministry of Electronics and Information Technology (MeiTY) releases Vision Document (Volume-I) on “Increasing India’s Electronics Exports and Share in GVCs” Document released as part of MeitY’s vision 1000 Days for ESDM Sector towards achieving One Trillion Dollar Digital Economy. It said that India’s electronics industry would be worth $300 billion by the year 2025.

India’s total electronics exports account for only 0.34% of global exports, despite a share of 3.6 per cent in global electronics manufacturing.

Key Recommendations:

  • Global Value Chain (GVCs): Between 1-4 years, manufacturers should be encouraged to shift manufacturing capacity of finished products, sub-assemblies and components from countries like China, Vietnam, Japan, South Korea, etc. to India.
  • Developing an Indian ecosystem within 5-8 years: Skill building and incentives should be provided to manufacture global subassemblies and components to supply GVCs for global consumption.
  • There should be co-location (installation of equipment or resources) in GVCs for expansion, export, skill acquisition and creation of domestic ecosystem.
  • Tariffs for inputs and policy-related operational burdens and delays should be reduced.

It is to be noted that earlier, three schemes were also announced to achieve the goals of the National Policy on Electronics 2019 Vision-

  • Production Linked Incentive (PLI) Scheme for large scale electronics manufacturing.
  • Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS)
  • Electronics Manufacturing Cluster (EMC 2.0) Scheme.

Key challenges before the electronics sector: Disruptive impact of aggressive pricing by economically sound firms, matching the efficiency of MNCs, access to capital, knowledge and skills, etc. Lowering prices in an effort to eliminate predatory pricing competition.

Source – The Hindu

Download Our App

MORE CURRENT AFFAIRS

Click to Join Our Current Affairs WhatsApp Group

Join Our Whatsapp Group For Daily, Weekly, Monthly Current Affairs Compilation & Daily Mains Answer Writing Test & Current Affairs MCQ

In Our Current Affairs WhatsApp Group you will get daily Mains Answer Writing Question PDF and Word File, Daily Current Affairs PDF and So Much More in Free So Join Now

Register For Latest Notification

Register Yourself For Latest Current Affairs

December 2022
M T W T F S S
« Nov    
 1234
567891011
12131415161718
19202122232425
262728293031  

Mains Answer Writing Practice

Recent Current Affairs (English)

Current Affairs (हिन्दी)

Subscribe Our Youtube Channel

Register now

Get Free Counselling Session with mentor

Download App

Get Youth Pathshala App For Free

Open chat
1
Youth Destination IAS . PCS
To get access
- NCERT Classes
- Current Affairs Magazine
- IAS Booklet
- Complete syllabus analysis
- Demo classes
https://online.youthdestination.in/