- Ravi Shankar Prasad, union minister of electronics and information technology, informed that India stands a good opportunity to promote electronics manufacturing
- The central government of India has recently announced three schemes related to electronics manufacturing worth nearly Rs 50,000 crore
Ravi Shankar Prasad, while appreciating the efforts of all states and UTs in the fight against Covid19, urged the states to work towards attracting investments in their geographies.
The Meity minister pointed towards recently announced Production Linked Incentive 2.0, Electronics Manufacturing Clusters, and Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) and appealed to states to supplement these with the schemes announced by respective state governments.
These three recently announced schemes have a project outlay of Rs 50,000 crore. The minister also accepted a suggestion from a State IT Minister for formation of a strategy group comprising representatives from the central government, state governments and private sector to work out a roadmap for the Indian IT and electronics sector post COVID19.
India is one of the biggest markets of electronics
India is counted among one of the biggest consumers of electronics in the world. The country, in 2019, had become the second largest consumer of smartphones in the world.
Prime Minister Narendra Modi has recently asked the chief ministers of several states to be ready to attract investments from companies quitting China. A report published in the Times of India states that the Prime Minister indicated towards attracting companies in a call with the heads of states for discussing lifting lockdown in India.
The report, citing a source, quoted PM of India as saying that several companies will explore locations beyond China to set up business. India should work on chalking out a plan to attract these companies. It is to be noted here that China is counted as the electronics manufacturing hub of the world.