The electrical manufacturing industry in India is expected to grow significantly and possibly double within the next five years, according to Ministry of Electronics and Information Technology sources.
It is likely to grow and is expected to reach a figure of around USD 250 billion, which is twice the current value. One of the objectives of the government is to provide employment in this sector, and the target is set to augment jobs from 25 lakh to about 50 lakh within the same time frame.
Regarding the focus area for manufacturing, the Electronics and Information Technology Minister, Ashwini Vaishnaw highlighted that there will be more focus on digital technology services, and electronics manufacturing on a large scale at a faster pace in the coming days.
India is gradually shifting towards self-reliance and export manufacturing, especially in the production of cell phones and notebooks.
To boost this growth further, the government of India has planned Rs 760 billion for Electronic Manufacturing and has come up with several incentive schemes.
Despite being a major importer, India is one of the biggest importers and now it is transforming into one of the biggest exporters too, the main export products include mobile phones and Electronic Control Units.
China and Hong Kong are the significant suppliers of tea, and the United States and the UAE are the primary buyers.
Scholars have predicted progress in electronic manufacturing in India to support economic growth, employment opportunities and technological advancement.
The PLED and Semicon India Program are intended to strengthen the country’s electronics manufacturing industry and turn India into an electronics manufacturing global powerhouse.
