Electronics Manufacturing Industries To Rise 30% For Next 5 Years Annually

0
708
Advertisement
  • Apple’s contract manufacturers as well as Samsung, Lava, Dixon have lined up with proposals for mobile phons production worth Rs 11 lakh crore over the next five years
  • The proposals under the PLI scheme for mobile phones manufacturing are expected to create around 12 lakh employment opportunities in the country
  • The country’s electronics production is expected to grow at least by USD 153 billion 

According to a report, the government is expecting electronics manufacturing in the country to register an annual growth rate of 30% per cent over the next five years and clock Rs 11.5 lakh crore additional production during this period. This has been shared by electronics and IT secretary Ajay Prakash Sawhney. 

He also added that the exports of electronics products will grow in the range of 40-50 per cent annually over the next five years, he added. 

Electronics manufacturing in India has been growing quite significantly. It has also been shared that 23% percent cumulative annual rate of growth has been witnessed over past five years. This growth has been expected to be 30% per cent year on year for next five years.

Sawhney also added that mobile manufacturing in the country has grown from 6 crore handsets five years ago to 33 crore at present, and over 90 per cent of country’s mobile phone requirements are met through domestic production. 

PLI Scheme 

Advertisement

“Last year we have seen spurt of 25 per cent. In next five years, growth in exports could be 40-50 per cent year on year at a bare minimum,” Sawhney said. The country’s electronics production is expected to grow at least by USD 153 billion ( around Rs 11.5 lakh crore) in the next five years, the secretary said.

22 domestic and international firms, including iPhone maker Apple’s contract manufacturers as well as Samsung, lava, Dixon and so forth, have lined up with proposals for mobile phons production worth Rs 11 lakh crore over the next five years. 

According to Ravi Shankar Prasad, Union Minister, all these proposals under the government’s Rs 41,000 – crore production-linked incentive (PLI) scheme for mobile phones manufacturing are expected to create around 12 lakh jobs, 3 lakh direct and 9 lakh indirect employment opportunities in the country.

Sawhney also shared that the Japanese countries have tremendous expertise and market share in capital goods which are used in the factories that manufacture electronic goods, digital displays, semi conductors, and India is looking forward to their engagement in the domestic market.

Enter your email address:

Delivered by FeedBurner

Advertisement

SHARE YOUR THOUGHTS & COMMENTS

Please enter your comment!
Please enter your name here

Are you human? *