Govt gives impetus to electronic production for higher yields in exports; sets $300 billion target
New Delhi, Jan 24 (KNN) In efforts to boost India’s electronics exports by $120 billion from current USD 10.6 billion, the government of India today unveiled the report titled as “USD 300 billion Sustainable Electronics Manufacturing and Exports by 2026”.
Releasing the report, IT and Railway Minister, Aswhini Vaishnaw said, “In the previous one and a half months the ministry has tried to counter some of the most difficult challenges to achieve our aim of USD 300 billion"
The Industry and Meity have partnered for this report.
An estimated production of USD 126 billion is set for mobile phones and USD 25 billion each for electronics hardware & IT along with industrial electronics.
The IT Minister informed that the government will set up factories with a footprint of over over 40,000 employees with production capacity of 1 lakh on a global scale.
It seems that changes are required in labour laws for which IT Minister Vaishnaw has 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.
Three locations have been identified which will be transformed into industrial zones with infrastructure to support manufacturing.