Ministry of Electronics & IT releases 2nd Volume of Vision Document on Electronics Manufacturing
Recently the Ministry of Electronics and Information Technology released the second volume of the Vision Document on Electronics Manufacturing.
This document has been released in association with India Cellular and Electronics Association (ICEA).
It is titled- “Sustainable Electronics Manufacturing and Exports of USD 300 Billion by the Year 2026”
Its first volume was released in November 2021. The volume was titled- “India’s Electronics Exports and Growth in Global Value Chain Share”.
Challenges before the Electronics Industry:
- India’s cost inefficiency in comparison to China and Vietnam.
- Lack of electronic component system.
- Lack of free trade agreements with developed economies.
- Compliance requirements and investigation procedures affect the business environment. Also, act as a hindrance in attracting investments.
Key Recommendations
- To focus on overall domestic value addition in the electronics sector
- Nurturing and promoting domestic companies that are able to compete on a global scale
- To address issues related to sustainability and ease of doing business.
- Removing cost inefficiencies and promoting exports from the country.
- Promoting Design Mechanism in India.
Source – The Hindu
