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India to become major electronic components exporter in near future, Vaishnaw

Electronic components ecosystem is developing in the country and India will become a significant component exporter in the next three-four years, Ashwini Vaishnaw, Minister of Communications and Information Technology, said on Thursday.

“Serious design capability is getting developed in India. This will benefit the country. Electronic component base is getting developed in the country…in coming 3-4 years we will have similar situation like mobile phones. Like we have become mobile exporter. We will become component exporter as well,” Vaishnaw said.

PLI scheme
Vaishnaw said the production linked incentive (PLI) scheme for mobile sector alone has created five-lakh incremental job opportunities and it is expected to grow further in the next five years.

He said as per formal employment data, net employment opportunities are at present to the order of 14 lakh per month.

When asked about if the government is concerned about Chinese companies not exporting from India, the minister said, “I encourage every company to make mobile phones in India…I encourage every company to export from India.” He acknowledged India’s emergence as an export hub, with the country already witnessing $12 billion in exports.

According to electronics industry body Electronic Industries Association Of India (Elcina), total component market base in the country was $39 billion in 2021-22 out of which 68 per cent requirement was met through imports.

Attacking the opposition for calling electronics manufacturing in the country as mere assembly, he said, “Industry has ignored their criticism. Local value addition in many electronics products have increased to up to 60 per cent.”

Vaishnaw alleged that Congress party in the last 60-70 years regime has mindset to not come up with schemes that can create jobs. “Manufacturing was the one sector which was discouraged during the Congress government by way policies,” he said adding that one of the first schemes that Prime Minister Narendra Modi launched was “Make In India”.

“Many regulations that discouraged manufacturing were removed. More than 20,000 compliances were removed…over 1500 archaic laws were removed,” he added. PTI

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