{"id":164442,"date":"2022-01-25T19:51:51","date_gmt":"2022-01-25T14:21:51","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=164442"},"modified":"2022-01-25T19:51:51","modified_gmt":"2022-01-25T14:21:51","slug":"ministry-of-electronics-it-releases-2nd-volume-of-vision-document-on-electronics-manufacturing","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/ministry-of-electronics-it-releases-2nd-volume-of-vision-document-on-electronics-manufacturing\/","title":{"rendered":"Ministry of Electronics & IT releases 2nd Volume of Vision Document on Electronics Manufacturing"},"content":{"rendered":"\n
What is the News?<\/b><\/h5>\n

The Ministry of Electronics and Information Technology has released a 5-year roadmap and Vision Document for the electronics sector, titled \u201c$300 bn Sustainable Electronics Manufacturing & Exports by 2026\u201d.<\/span><\/p>\n

Note: <\/b>The vision document comes in the backdrop of the PLI scheme<\/a> announced by the government. The government has committed nearly US$17 billion over the next 6 years across four PLI Schemes \u2013 Semiconductor and Design, Smartphones, IT Hardware and Components.\u00a0<\/span><\/p>\n

What is the objective of the report?<\/b><\/h5>\n

To lead India\u2019s transformation into a US$300 billion electronics manufacturing powerhouse, from the current US$75 billion, by 2026.<\/span><\/p>\n

To make electronics, India\u2019s third-largest exports category, exponentially expanding exports to $120 billion from the current $10.6 billion by 2026.<\/span><\/p>\n\n\n\n
Read more: YEAR END REVIEW 2021: Ministry of Electronics and Information Technology (MeitY)<\/a><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
Why should India concentrate on the electronics sector?<\/b><\/h5>\n

India has a great opportunity in the electronics sector due to 2 key factors: growth of digital consumption and growth and diversification of global value chains.<\/span><\/p>\n

The key products that are expected to lead India\u2019s growth in electronics manufacturing include Mobile Phones, IT Hardware (laptops, tablets), Consumer electronics (TV and audio), Industrial electronics, Auto electronics, Electronic components, LED Lighting, Strategic electronics, PCBA, Wearables and hearables, and Telecom equipment.<\/span><\/p>\n

Among these products, Mobile manufacturing is expected to cross US$100 billion annual production – up from the current US$30 billion. It is expected to constitute nearly 40% of this ambitious growth.<\/span><\/p>\n\n\n\n
Read more: Electronics incentive schemes launched<\/a><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
What are the recommendations given by the report to achieve projected growth in the electronics sector?<\/b><\/h5>\n

Firstly, <\/b>the report focuses on a five-part strategy that is based on an \u201call of the government\u201d approach. The strategy includes 1)<\/strong> Building competitiveness and scale by attracting global electronics manufacturers\/brands, 2)<\/strong> Shifting and developing sub-assemblies and component ecosystems, 3)<\/strong> Building a design ecosystem 4)<\/strong> Nurturing Indian champions and 5)<\/strong> Steadily removing cost disabilities faced by India.<\/span><\/p>\n

Secondly, <\/b>the report makes a strong recommendation on the need to focus on aggregate domestic value addition<\/strong> in the electronics sector, as India transforms from its current state to one that is gearing to compete with the likes of China and Vietnam.<\/span><\/p>\n

Thirdly, <\/b>the report seeks a competitive tariff structure<\/strong> on electronic components and the removal of all regulatory uncertainty<\/strong>.<\/span><\/p>\n

Fourthly,<\/b> it recommends a \u201cwinner takes all\u201d strategy<\/strong> backed by economies of scale and global competitiveness, new and revised incentive schemes for some sectors and the need to address issues of sustainability and ease of doing business<\/strong>.<\/span><\/p>\n

Source:\u00a0<\/b>This post is based on the articles:<\/span><\/p>\n

\u00a0<\/span>\u2018<\/b>Ministry of Electronics & IT releases 2nd Volume of Vision Document on\u00a0 Electronics Manufacturing<\/b>\u2019 <\/b>published in<\/span> PIB <\/b>on<\/span> 25th January 2022.<\/b><\/b><\/p>\n

\u2018Government to push electronics manufacturing to $300 billion by 2026\u2019 <\/b>published in<\/span> Livemint <\/b>on<\/span> 25th January 2022.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

What is the News? The Ministry of Electronics and Information Technology has released a 5-year roadmap and Vision Document for the electronics sector, titled \u201c$300 bn Sustainable Electronics Manufacturing & Exports by 2026\u201d. Note: The vision document comes in the backdrop of the PLI scheme announced by the government. The government has committed nearly US$17… Continue reading Ministry of Electronics & IT releases 2nd Volume of Vision Document on Electronics Manufacturing<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,956,9],"tags":[10501,3590],"class_list":["post-164442","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-schemes-and-programs","category-public","tag-live-mint","tag-pib","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704755471},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/164442","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=164442"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/164442\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=164442"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=164442"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=164442"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}