New Delhi, July 4 (IANS) As the government doubles down on electronics manufacturing, including semiconductors, to make the country a global supply chain hub, a task force set by the IT Ministry is near finalising its report, suggesting a massive Rs 44,000 crore push for domestic companies till 2030.
Established in January this year, the MeitY task force, led by Ajay K Sood, the principal scientific advisor to the government, has key industry figures like Ajai Chowdhry, Founder of HCL and Chairman of EPIC Foundation and Sunil Vachani, MD of Dixon Technologies.
According to reports, the task force also pitches for extending the production-linked incentive (PLI) scheme until 2030, which has helped global players like Apple create a robust supply chain and increase exports, along with enhancing taxation policies for research and development.
According to Chowdhry, the aim is to reduce India’s electronics import bill.
“The next five years will play a decisive role in shaping the next few decades for electronics product design and manufacturing in India. If we want to be a Product Nation and compete directly with China to cater to the global electronics market, the country will need to put forth its best minds who understand business,” Chowdhry, also Chairman-Mission Governing Board, National Quantum, said last month.
According to the task force members, the last 10 years have ensured Indian companies revitalise themselves and Prime Minister Narendra Modi’s call for ‘Aatmanirbharta’ has been met with much appreciation together with on-the-ground action.
“It is time now to transition and focus on value-added manufacturing as well as ‘design in India’ products, thereby positioning India as a creator of global brands,” they said.
Meanwhile, the domestic electronics industry has also urged the government to look into lowering tariffs on inputs in the upcoming budget and scale up local manufacturing to further beat China and Vietnam.
The country’s electronics manufacturing output reached a record-breaking $115 billion in FY24, with $29.1 billion in electronics exports, making electronics the fifth-largest export category from the country.
Mobile phones alone contributed over 54 per cent of this export, with production out of $51 billion in FY24.
The country aims to reach $300 billion in electronics manufacturing by 2030.
–IANS
na/dan
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
