Union Minister of State for Electronics and IT Rajeev Chandrasekhar said that the government aims to increase the electronics manufacturing capacity 24 lakh crore by 2025-26. He said that this initiative would generate 10 lakh jobs.
Speaking at a function in Bengaluru, the minister said the country is at a turning point – the most exciting period in its history – and the present generation of students is the luckiest generation in the history of independent India.
“…Narendra Modi government aims to increase electronics manufacturing capacity 24 lakh crore by 2025-26, which will also help generate over 10 lakh jobs,” an official statement quoted him as saying.
He said that there are over 90,000 startups, including 110 unicorns, in which young Indians are playing a big role.
The minister said that at least 15 lakh young Indians from Karnataka will be trained in industry-related, future-ready skills.
Recently, Center approved another tranche of Production Linked Incentive (PLI) scheme 765 crore for large scale electronics manufacturing including Apple iPhone chip maker Wistron.
The Economic Times reported that Wistron will acquire total 601.93 crore 765 crores. While Dixon Technologies’ unit will be received by Padgett 149.63 cr. AT&S, Shogini, and Alcon Electronics will receive incentives 7.58 crores, 3 crores, and 2.40 crores respectively.
Besides this, media reports have emerged that the central government is also planning to launch a PLI scheme to promote domestic production of high-end smartphone components and other IT hardware in India. plan is expected to be around 10,000 – 12,000 cr.
Till September 2022, PLI scheme for large scale electronics manufacturing (LSEM) has attracted investments. 4,784 crore, and led the total production 2,03,952 crore, including exports of 80,769 crores. 40,916 people have also got employment through this scheme. Electronics manufacturing is expected to grow to $300 billion by 2025-26.
The production of mobile phones has increased from about 6 crore in 2014-15 to about 31 crore in 2021-22. Mobile phone exports have also seen a sharp increase. India exported 45,000 crore mobile phones in FY 2021-22 and mobile phone exports during the current year up to November 2022 have already crossed 40,000 crore, according to NITI Aayog data, which is more than double the exports made during the same period last year.
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