Connect with us

Headlines of the Day

Govt unveils vision to touch $300 billion local electronics production

The government outlined the $300 billion electronic production vision document on Monday which aims to make electronics India’s third largest exports category exponentially expanding exports to $120 billion from the current $10.6 billion.”We have tried to address some of the most pressing challenges faced by the industry in the last one and a half months in order to achieve this target,” communications, IT and railways minister Ashwini Vaishnaw said while unveiling the report titled, “US$300 bn Sustainable Electronics Manufacturing and Exports by 2026”. The report was prepared jointly by the industry and Meity.

The report pegs mobile phone production as the engine of the $ 300 billion target with an estimated production of $ 126 billion followed by electronics hardware & IT along with industrial electronics at $ 25 billion each.

Vaishnaw said the government was working towards making it possible to set up large factories with a footprint of over over 40,000 employees and uptil 1 lakh to be able to produce on a global scale. “this requires changes in labour regulations and I have already spoken to the labour minister and received commitment that whatever changes will need to be made will be made for sompnies to set up large factories in the country,” he said.

Vaishnaw added that housing on campus another demand of the industry would also be done on a case by case basis and that the government had identified 3 locations which could be converted into industrial zones with strong infrastructure to support manufacturing.

“Now, the biggest of the items that we are trying to tackle is mobile [read: production]: $30 billion to $120 billion, or a 4x increase. Then we have four significant segments where our level of ambition is at about $23 billion or $25 billion — IT hardware, industrial electronics, consumer electronics and automotive electronics… four big entities about $25 billion each,” Sawhney said. FastTimes

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Copyright © 2024 Communications Today

error: Content is protected !!