Union MoS for MeitY Rajeev Chandrasekhar | ANI file photo
New Delhi: Mobile phones will be among the top 10 categories for exports from India from 2024, Rajeev Chandrasekhar told media on March 4 in New Delhi.
The Union Minister of State for Electronics and Information Technology stated that Prime Minister Narendra Modi had developed a very clear vision for India to become a major player in the global electronics supply chain, adding that “India will have $300 billion in electronics manufacturing by then will do in 2026”, that a “framework of modern laws” will be created and India will soon have a “Digital India Act” to enable start-ups.
He also said that PM Modi aims to expand the electronic ecosystem, ANI reported. “Very soon, a comprehensive semiconductor ecosystem will be built in India, encompassing design, packaging, manufacturing and manufacturing,” he said.
He added that India would soon be a global manufacturing hub, adding, “There is an underlying vision and policy framework that is leading this shift of global brands to seek India as a global manufacturing hub.”
Earlier that day, speaking at the Raisina Dialogue 2023 session, he added that nations must work together to curb over-reliance on Chinese semiconductors, The Hindu reported.
“There is a reorganization of the semiconductor world. No country can do this alone. Countries should not be under the illusion that they will be the “king of things” when it comes to localizing the entire supply chain, he had said.
In an interview with PTI ahead of the 2023 budget, the minister explained that the government would now expand the electronics manufacturing ecosystem with a new production-linked incentive system for manufacturers of hearing aids, IT hardware and component manufacturers.
He had also noted that mobile phones are at the fore as it is the fastest growing part of the global electronics industry.
The Electronics Component Manufacturers’ Association (ELCINA) has recommended that the government spend US$10 billion (approx.) over the next eight years. They also had a four-year extension of the Electronic Components and Semiconductor Manufacturing Encouragement Program (SPECS) and an increase of the Union budget by 16,000 crore for 2023-24, Livemint reported.
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