Electronics demand in country to be $500 bn in 10 yrs: Pilot

- Advertisement -

Minister of State for Communications and IT Sachin Pilot said in absence of local manufacturing India will have to import electronics products to meet domestic demand, which will be “more than oil import bill of the country” in the next 10 years.

“We exported USD 78 billion worth of softwares last year.But demand for electronics industry in India today is USD 45 billion. In less than 10 years it will become USD 500 billion that will more than the oil import bill of this country,” Pilot said while speaking at an AIMA event.

“We will have to import all these hundreds of billions worth of electronics good if we don”t start manufacturing them,” he added. Earlier estimates submitted by IT Task Force showed that India”s demand for electronics products (including telecom) will be USD 400 billion by 2020. At the existing rate of growth, the production of electronics hardware is likely to grow to USD 104 billion by 2020, creating a demand and supply gap of USD 296 billion, which would have to be met through imports, it had said.

- Advertisement -

To promote ecosystem, Department of Information Technology has said that it will set up a Rs 5,0000 million Electronics Development Fund focusing on development of technology that is of strategic interest for the country.

In mid April, The Cabinet approved setting up high powered committee to set up two semiconductor wafer fabrication plant for making electronic chips in the country with investment of Rs 25,0000 million (USD 5 billion approximately).

Pilot said the government is building up eco-system to create to facilitate manufacturing in the country.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Buzz

Digital India Conference of State IT Ministers Concludes

0
The officials discussed startups, emerging technologies, skilling, digital governance, and the semiconductor ecosystem The 3-day long Digital India Conference of State IT Ministers, which began...

Silicon Labs Joins IIITH To Launch Wi-SUN Network

0
IIIT Hyderabad Smart City Living Lab partners with the company to enable research for smart cities applications IITH Smart City Living Lab and Silicon Labs...

IMC 22: IT Minister Launches Multi Access IoT Device

0
The Made In India MAID showcased Indian technical competencies harmonised to global standards, said the company At the India Mobile Congress 2022 in Delhi, the...

Exclusive

Digital India Conference of State IT Ministers Concludes

0
The officials discussed startups, emerging technologies, skilling, digital governance, and the semiconductor ecosystem The 3-day long Digital India Conference of State IT Ministers, which began...

Silicon Labs Joins IIITH To Launch Wi-SUN Network

0
IIIT Hyderabad Smart City Living Lab partners with the company to enable research for smart cities applications IITH Smart City Living Lab and Silicon Labs...

IMC 22: IT Minister Launches Multi Access IoT Device

0
The Made In India MAID showcased Indian technical competencies harmonised to global standards, said the company At the India Mobile Congress 2022 in Delhi, the...

Important Sectors

Digital India Conference of State IT Ministers Concludes

0
The officials discussed startups, emerging technologies, skilling, digital governance, and the semiconductor ecosystem The 3-day long Digital India Conference of State IT Ministers, which began...

Silicon Labs Joins IIITH To Launch Wi-SUN Network

0
IIIT Hyderabad Smart City Living Lab partners with the company to enable research for smart cities applications IITH Smart City Living Lab and Silicon Labs...

IMC 22: IT Minister Launches Multi Access IoT Device

0
The Made In India MAID showcased Indian technical competencies harmonised to global standards, said the company At the India Mobile Congress 2022 in Delhi, the...

Tata’s Act For Biodiversity Conclave Brings Green Hope

0
The conclave witnessed the presence of Mr Jamshyd Godrej, Ms Anjali Bansal, Mr Ricky Kej and Mr Kavinder Singh among others Tata Power, India's leading...

MediaTek & Invendis Join Forces For ‘Made in India’ 5G Routers And Wi-Fi

0
In-line with 'Vocal for Local', Silbo Routers are completely indigenous, says Invendis IoT and Cloud Computing solutions provider Invendis and semiconductor company MediaTek recently announced...

Manufacturing

Electronics Major Molex Expands In Hanoi

0
The fully integrated connector manufacturing facility in Vietnam will be laced with advanced tech and capabilities, said the company Global electronics and connectivity major Molex...

MediaTek & Invendis Join Forces For ‘Made in India’ 5G Routers And Wi-Fi

0
In-line with 'Vocal for Local', Silbo Routers are completely indigenous, says Invendis IoT and Cloud Computing solutions provider Invendis and semiconductor company MediaTek recently announced...

PLI Scheme Can Help States Become Destinations For Electronics Manufacturing: MoS

0
The manufacturing plant has been set up under the Production Linked Incentive (PLI) scheme At the recent opening ceremony of Pegatron mobile manufacturing facility, the...

Moxion Power Raises $100 Million; Plans To Scale Clean Energy Manufacturing

0
The company aims to meet the increasing demand for its mobile energy storage product lineup In its Series B funding round, the US-based Renewable Energy...

Wind Power Brings Continuum And GE Renewable Energy Together

0
Commercial and industrial establishments will receive the wind power produced in the respective states As per a recent announcement, GE Renewable Energy is set to...