India Aims to Boost Domestic Display Manufacturing

ENA Sectors 2024-05-29 13:49:03 New Delhi, May 29 (KNN) The India Cellular and Electronics Association (ICEA) is urging the government to provide more support for display manufacturing in the country. India is currently the third-largest consumer of display products globally, yet it lacks domestic manufacturing capabilities beyond display assembly. Display has a major 15 per cent to 20 per cent position in the Bill of Material which is close to the other logic, memory and semiconductors. It's a matter of great concern that we have not been able to break ground beyond display assembly, said Pankaj Mohindroo, chairman of ICEA. The government's Rs 76,000-crore semiconductor incentive scheme offers 50 per cent fiscal support for setting up display fabs. However, none of the three applications received so far have been approved. ICEA, which represents companies like Apple, Foxconn, Lava, and Chinese handset makers, believes display manufacturing presents a unique opportunity for India. It could attract international firms looking to diversify their supply chains and complement the country's growing domestic demand. India's display demand is primarily driven by mobile phones. It rose from 303.7 million units in 2022 to 338.4 million units in 2023, with 310 million units for mobile phones alone. Overall demand is projected to reach 383.5 million units by 2026. This sector needs special attention and we are determined to make India a strong display manufacturing nation, Mohindroo stated, calling for focused efforts to establish a robust display manufacturing ecosystem in the country. (KNN Bureau) 37978 https://knnindia.co.in/news/newsdetails/sectors/india-aims-to-boost-domestic-display-manufacturing 2024-05-29 13:49:03 knnindia.co.in India Aims to Boost Domestic Display Manufacturing