The government outlined the $300 billion electronic production vision document which aims to make electronic India’s third-largest exports category exponentially expanding exports to $120 billion from the current $10.6 billion.
“We have tried to address some of the most pressing challenges faced by the industry in the last one and a half months in order to achieve this target,” communications, IT and railways minister Ashwini Vaishnaw said while unveiling the report titled, “US$300 bn Sustainable Electronics Manufacturing and Exports by 2026”. The report was prepared jointly by the industry and Meity.
The report pegs mobile phone production as the engine of the $ 300 billion targets with an estimated production of $ 126 billion followed by electronics hardware & IT along with industrial electronics at $ 25 billion each.
Vaishnaw said the government was working towards making it possible to set up large factories with a footprint of over 40,000 employees and until 1 lakh to be able to produce on a global scale. “ this requires changes in labor regulations and I have already spoken to the labor minister and received a commitment that whatever changes will need to be made will be made for companies to set up large factories in the country,” he said.
Vaishnaw added that housing on campus another demand of the industry would also be done on a case-by-case basis and that the government had identified 3 locations that could be converted into industrial zones with strong infrastructure to support manufacturing.
