Summary:

Under the Ministry of Electronics and Information Technology (Meity), the government is collaborating with the Indian Cellular and Electronics Association (ICEA) and Bain & Company to develop a strategy to achieve a $500 billion electronics output value by 2030. The study, which Communications Minister Ashwani Vaishnaw is slated to unveil, builds on Prime Minister Modi's vision. A Niti Aayog report published in July 2024 highlighted export contributions and employment growth, projecting the creation of 5.5-6 million additional jobs.

The report recommends governmental changes to help meet the electronics manufacturing target. Meity is finalizing a production-linked incentives (PLI) plan for electronic components, with a commitment of Rs. 40,000 crore (US$ 4.68 billion) to strengthen the supply chain for both domestic and international markets. The upcoming report will outline a strategy to achieve the goal, covering a wide range of electronics sectors, including mobile devices, consumer electronics, auto, telecom, IT servers, wearables, and medical electronics. The aim is to capture 6-7% of global electronics output by 2030.

Source: IBEF

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