By the end of 2025, India will be able to manufacture 50 million hardware devices such as tablets and laptops, 50 million TVs, and 1 million phones
A proper scaling-up of the electronics manufacturing sector in India could contribute to $1 trillion to the country’s economy, said Union minister for Communications and IT, Ravi Shankar Prasad. According to him, foreign firms such as Samsung, Apple, Foxconn, and others are showing their deep interests in investing in India.
The union government has already predicted and is trying hard to push for a $5 trillion economy by the end of 2025. At the Assocham event, the minister highlighted that there is nor fear or doubt that a proper scaling-up of this sector alone will be able to offer $1 trillion to the economy. India is already witnessing huge growth in the electronics industry and during this pandemic the potential to set-up industries in India has augmented.
By the end of 2025, India will be able to manufacture 50 million hardware devices such as tablets and laptops, 50 million TVs, and 1 million phones. Apart from that, the country has the ability to manufacture millions of laptops, PCBs for IoT devices. The point is, India must become an international hub for phone manufacturing.
He added that talent in India, ability to innovate, and demographic dividend of the country have enough potential to make India get propelled as the top manufacturing destination of the world. He also said that the production-linked incentive scheme floated by the government attracted global majors, with a promise to make mobile phones worth about Rs 10 lakh Crore, out of which devices worth Rs 7 lakh Crore will be exported.
Under the proposed PLI scheme, the government has passed 16 proposals from international and domestic firms with an investment of Rs 11,000 Crore to boost the manufacturing of mobile phones worth Rs 10.5 lakh Crore in the next five years.