‘Electronics sector will exceed US$ 190 billion by 2015'

- Advertisement -

Indian electronics industry will exceed US$ 190 billion by 2015 and grow to US$ 400 billion by 2020, which would account for 12 per cent of the then global production, said T Vasu, president, Electronic Industries Association of India (ELCINA).

To achieve this, he said, India would require an investment of over US$ 100 billion. According to him, the current size of the Indian electronics industry is pegged at US$ 45 billion and is growing at 25-27 per cent year on year. However, he said, it meets hardly 50 per cent of the domestic demand, and the import bill exceeds US$ 25 billion at present.

Talking about the challenges ahead of the industry’s growth, he said infrastructure bottlenecks such as high costs and availability of power, transport and logistics, complex tax regime and finance are some of the major issues.

- Advertisement -

Demanding the government’s support to create an ecosystem for a globally competitive electronics sector, he said the government should come forward to facilitate setting up of a semiconductor fab, provide preferential market access for domestically manufactured and designed products.

Ajay Kumar, Joint Secretary, Department of Information Technology, said at the present rate, the country’s electronics import bill may soon exceed that of oil. Hence, to encourage many domestic and global majors to set up manufacturing facilities in India, the government proposes to implement some of the key recommendations of the special task force, set up by his department, by 2012.

The key recommendations include setting up of Electronic Development Fund and creation of at least 200 electronic manufacturing clusters, and significantly scale up high-end human resource creation.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Buzz

H1 2022: Global Smartphone CIS Shipments Drop

0
Weak global economics amid war and pandemic fears keeping the market dull As per the latest Counterpoint Smartphone Camera Tracker report, Global smartphone CMOS image...

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...

Silicon Labs’ New Address: Hyderabad

0
It is the company's largest global centre for engineering and wireless connectivity innovation Leading global IoT wireless technology company Silicon Labs recently inaugurated its new...

Exclusive

H1 2022: Global Smartphone CIS Shipments Drop

0
Weak global economics amid war and pandemic fears keeping the market dull As per the latest Counterpoint Smartphone Camera Tracker report, Global smartphone CMOS image...

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...

Silicon Labs’ New Address: Hyderabad

0
It is the company's largest global centre for engineering and wireless connectivity innovation Leading global IoT wireless technology company Silicon Labs recently inaugurated its new...

Important Sectors

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...

Silicon Labs’ New Address: Hyderabad

0
It is the company's largest global centre for engineering and wireless connectivity innovation Leading global IoT wireless technology company Silicon Labs recently inaugurated its new...

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...

Tech Mahindra Opens Telco Smart Analytics Lab in UK

0
Situated in Milton Keynes, the lab aims to develop data analytics solutions on Google Cloud India-based IT company, Tech Mahindra recently announced its dedicated Google...

GODI India Manufactures 3000F high power supercapacitor

0
Integration with battery packs would improve the battery life of EV, says GODI GODI India, the country's leading company to have homegrown technology to make...

Manufacturing

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...

Apple Making iPhone 14 In India!

0
As per the latest reports, Apple has started manufacturing iPhone 14 in India. Foxconn’s Sriperumbudur facility situated on the outskirts of Chennai is the...

Global UAV Mkt To Grow At 18.41% CAGR

0
The report 'Global UAV Market 2022-2026' lists the opportunities and challenges lying ahead for this sector A recent report released by Technavio expects the global...

Semiconductors and Display Manufacturing: Ready for Another Boost

0
Govt says that tech nodes of 45nm account for half of the total semiconductor market in India Central Cabinet, in a recent meeting, approved a...