Government Planning On PLI For Electronics Components

- Advertisement -

The government is working on finalizing a long-term roadmap with the right incentive structure to attract more global supply chains to relocate to India.

Export of Electronics in Telecom and Smartphones

The exports and domestic manufacturing of smartphones, consumer electronics, IT and telecom has increased with the PLI schemes. Similarly, the government is planning on PLI schemes for electronics components to narrow down the trade deficit.

Most of the component manufacturers competing with India are located in countries like China, Vietnam, and Thailand. While these countries have a trade surplus, our trade deficit in electronics hit USD 56 Billion in FY22.

- Advertisement -

The officials and industry executives said that the current PLI schemes for smartphones have increased the domestic manufacturing, which in turn increased the export. However, the components required for these smartphones are largely imported from other countries, increasing the need for PLI schemes for electronics components.

The imports for electronics components hit a 67% surge to USD 25.6 billion in FY22. Similarly, the imports of computer hardware and peripherals jumped 45.4%. The import of consumer electronics climbed 27.7%, while those of telecom and electronic instruments increased 2.3% and 21.4%.

The exports for electronics in the telecom instrument segment increased 66% to USD 7.4 billion, which is nearly half the country’s electronics overall supplies previous fiscal. The exports of consumer electronics jumped 33% to USD 0.9 billion while the electronics components and instruments increased 33% and 17.5% respectively. The computer hardware and peripherals exports increased 32% to USD 415 million last fiscal.

“The only way to check the trade deficit in electronics is to increase domestic value addition and that can happen when more and more components start getting manufactured domestically. This can only happen if a suitable PLI scheme with the right incentives is put in place,” industry executives.


- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Buzz

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...

Itron And SmartThings Collab: Aiming For Carbon Reduction

0
Companies will share their respective services like distributed intelligence (DI) ecosystem and real-time energy readings As per the latest reports, Itron and SmartThings are all...

Exclusive

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...

Itron And SmartThings Collab: Aiming For Carbon Reduction

0
Companies will share their respective services like distributed intelligence (DI) ecosystem and real-time energy readings As per the latest reports, Itron and SmartThings are all...

Important Sectors

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...

Itron And SmartThings Collab: Aiming For Carbon Reduction

0
Companies will share their respective services like distributed intelligence (DI) ecosystem and real-time energy readings As per the latest reports, Itron and SmartThings are all...

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...

Hadean Raises $30M; Will Boost Metaverse Infra Tech

0
The company aims to scale its metaverse capabilities; provide creators with tools in emerging metaverse markets In the Series A Funding round led by Molten...

Manufacturing

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...

High Efficiency Solar PV Modules Manufacturing Gets Govt Push

0
The scheme is poised to reduce import dependence while generating domestic employment opportunities PM-chaired Union Cabinet recently approved the implementation of Tranche II of the...

MediaTek & Qualcomm Dominate the Smartphone AP Market

0
MediaTek led the shipments, while Qualcomm grabbed the most revenue in Q2 2022 As per the latest reports, the second quarter of this year witnessed...