New Delhi: Mobile phones will be among top 10 categories for exports from India from 2024, said Rajeev Chandrasekhar, addressing the media on 4 March in New Delhi.
Stating that Prime Minister Narendra Modi has laid out a very clear vision of India becoming a significant player in the global electronics supply chain, the Union minister of state for electronics and information technology further added that “India will do 300 billion dollars of electronic manufacturing by 2026”, that a “framework of modern laws” was being created and soon India would have a “Digital India Act”, to enable start-ups.
He also said that PM Modi wants to expand the electronic ecosystem, ANI reported. “Very soon a comprehensive semiconductor ecosystem including design, packaging, fabrication and manufacturing will be established in India”, he said.
Adding that India would soon be a global manufacturing hub, he added, “There is an underlying vision and policy framework that is causing this shift in global brands to seek India as a global manufacturing destination.”
Earlier on the same day, speaking at the Raisina Dialogue 2023 session, he had added that to curb over-reliance on Chinese semiconductors, nations need to collaborate with each other, The Hindu reported.
“There’s a reordering of the semiconductor world. No country is going to be able to do this alone. Countries shouldn’t ‘delude’ themselves into thinking they’ll be the ‘king of the hill’ in localising the entire supply chain, he had said.
In an interview with PTI prior to Budget 2023, the minister had stated that the government will now expand the electronics manufacturing ecosystem with a new production-linked incentive scheme for makers of hearable-wearable, IT hardware and component manufacturers.
He had also noted that there has been an emphasis on mobile phones because it is the fastest-growing part of the global electronics industry.
The Electronics Component Manufacturers’ Association (ELCINA) has recommended that the government allot USD 10 billion (about Rs 80,000 crore) over the next eight years to increase production of electronic components and essential modules other than semiconductors. They had also requested a four-year extension of the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) and a 16,000 crore increase in the Union Budget for 2023-24, Livemint reported.