According to the analysts, to boost economy and reduce import costs, the country need to manufacture more products within the country.
The production level of electronics goods is still low and there is a burden on the country’s trade deficit by the imports of electronics items. As per a study by lobby group Assocham, India at least need to import $300 billion of electronic goods by 2020 to meet a growing demand.
Though, ‘Make in India’ campaign has helped to boost up the production of smartphones in India, there is still a lot which has to be done in the field of electronic manufacturing. Government has set a very high target of achieving net zero imports of electronics and also has increased import duties on electronics like televisions and smartwatches to help the local manufacturing industry of the country.
“Hopefully in a couple of years’ time….. we are working hard towards this goal, we would be able to get most of the important sub-assemblies and the basic components also increasingly being manufactured in India,” said Ajay Prakash Sawhney, the secretary of the Ministry of Electronics and Information Technology.