Investments in the electronics sector in the country is now expected to touch $56 billion in the next four years. This was recently said by a government official in Singapore who was attending ‘India Connect’ business forum organised at the ongoing CommunicAsia2016 exhibition being held from May 31 to June 3.
“We must have an electronics output of $ 400 billion a year by 2020 to meet domestic demand and generate exports worth $ 80 billion,” Director in the Department of Electronics and IT Ministry S K Marwaha told PTI.
The official outlined how important it is for India to increase domestic electronics manufacturing. Marwaha said that till now India has received $16 billion of new investments for the electronics sector, and he expects the industry to be $100 billion-strong along with $28 billion of existing investments and the new $52 billion in offing.
Indian government has been highlighting Make in India initiative to multinational companies and have been engaging in talks with numerous countries to come and manufacture in India.
The objective for India is to match imports and exports in the electronics sector and also try to make India an export hub of electronics.
By Atanu Kumar Das