January 30, 2023
Mobile phone production is expected to reach INR 1 trillion by FY24
The government will do 100% hand-holding of component players to boost the local ecosystem
Electronic Industries Association Of India (ElCINA) has requested the government to allocate US$ 10 billion for eight years
India Electronics and Semiconductor Association (IESA), has requested the government to convert the PLI scheme into a design-led manufacturing scheme
India’s electronics manufacturing is expected to surpass INR 1.28 trillion by FY24, according to the Minister of State for Electronics and IT Rajeev Chandrasekhar.
The Minister further added that the government is going to expand the electronics manufacturing ecosystem with a new PLI scheme for hearable-wearables, IT hardware and component makers. He further added that the government has been focussing on mobile phone production as it is a fast-growing sector, and as a result, it is expected to reach an export target of INR 1 trillion by FY24.
According to media reports, the Minister said that the government will provide support of up to 100% to component players to boost the local ecosystem.
Source: Economic Times