electronics manufacturing: Indian electronics manufacturing to cross Rs 1.28 lakh crore next fiscal: MoS IT

Electronics manufacturing within the nation is predicted to cross Rs 1.28 lakh crore within the subsequent monetary yr, Minister of State for Electronics and IT Rajeev Chandrasekhar has mentioned. The minister, in an interview with PTI, mentioned the federal government is now going to broaden and widen the electronics manufacturing ecosystem with a brand new production-linked incentive scheme for hearable-wearable, IT hardware and element makers.

“Electronics manufacturing as an entire, we see subsequent yr that we’ll not less than do Rs 1.28 lakh crore. I’ve already mentioned that we’ll see cell phone manufacturing reaching Rs 1 lakh crore in 2023-24,” Chandrasekhar mentioned.

There was a deal with cell phones as a result of it’s the fastest-growing section in electronics the world over, he added.

Learn Additionally

“Worth addition in manufacturing is a operate of scale. First, you might want to hit the dimensions. The element business is the one which does worth addition. Parts won’t come if the dimensions of producing isn’t there. The subsequent stage of our PLI is to get elements PLI, hearable-wearable PLI and the IT server PLI,” the minister mentioned.

The federal government will do 100 per cent hand-holding of element gamers to spice up the native ecosystem, he famous.

Electronics elements makers physique ELCINA has requested the federal government to allocate USD 10 billion (about Rs 80,000 crore) for 8 years to spice up the manufacturing of digital elements and key modules apart from semiconductors.

It has sought a four-year extension to the Scheme for Promotion of Manufacturing of Digital Parts and Semiconductors (SPECS), with an elevated outlay of Rs 16,000 crore within the Union Budget for 2023-24.

In response to ELCINA, the upgraded PLI will facilitate investments of round Rs 64,000 crore with a focused output of USD 24 billion (about Rs 1.95 lakh crore) for all elements apart from semiconductors.

The business physique has additionally sought reinstatement of revenue tax reduction for the funding made in analysis and growth.

It has additionally requested for a PLI scheme with a deal with home electronics manufacturing companies firms.

India Electronics and Semiconductor Affiliation (IESA) has requested the federal government to transform the PLI scheme right into a design-led manufacturing scheme and impose an import obligation of 10 per cent on any imported electronics gear and assembled printed circuit board (PCB) to spice up native manufacturing.

FbTwitterLinkedin