New Scheme On Anvil To Boost Electronics Component Manufacturing: MeitY Secretary

New Delhi, Dec 12 (KNN) The union government is working on a new scheme with the aim to boost electronics component manufacturing in the country, S Krishnan, Secretary, Ministry of Electronics and IT (MeitY), said.

Since 99 per cent of the local mobile phone market is being met through domestic manufacturing, there is a need to export by improving competitiveness and enhancing value addition, for next phase of growth.

Speaking at the CII Electronic Summit, Krishnan said, “If our competitiveness needs to keep getting better than the challenge really is to not just rely on about 10 to 15 per cent of the value addition to assembly units in the country but to look at what else we can do, how can we move up in the value chain?”

He said no one country is ever going to own the entire value chain and it’s only going to be a portion of the value chain that India needs to target.

Krishnan said that the government is working on a second version of incentive scheme for electronics components, Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS).

He added that the industry should also look at producing capital equipment required for electronics manufacturing locally.

(KNN Bureau)