Ravi Shankar Prasad to hold discussions with prominent CEOs of Electronics industry

Ravi Shankar Prasad to hold discussions with prominent CEOs of Electronics industry

Agency News

New Delhi, Sep 13: Union Electronics and Information Technology Minister Ravi Shankar Prasad will hold round table discussions with prominent leaders of Electronics Industry at Vigyan Bhawan on Monday.

The round table discussion will be essentially to brainstorm about the challenges being faced by the Industry, opportunities and expectations of the industry from the Government so that the Indian electronics manufacturing sector can grow at a fast pace.

The Government attaches high priority to domestic electronics hardware manufacturing and it is one of the important pillars of both 'Make in India' and 'Digital India' programmes of the Government.

As a result of implementation of several schemes and initiatives for promotion of electronics hardware manufacturing and efforts of the industry, considerable progress has been made in thepast five years, especially in import substitution.
Some of the key highlights of the Electronics sector in India includes over USD 15 billion worth of investment proposals received directly by the Ministry of Electronics and IT under its flagship investment scheme, Domestic manufacturing has grown from USD 29 billion (in 2014-15) to USD 70 billion (in 2018-19).

India has emerged as the 2nd largest manufacturer of mobile handsets in the world and one of the world’s largest mobile manufacturing facility is based in India.

Number of manufacturing units for LCD/ LED TVs has gone up from 25 to 35 units, number of LED lights manufacturing units has gone up from 10 to 128 units and generated employment for over 20 lakh persons across the country.

Lately exports of electronics goods have started growing rapidly.

There is a significant scope for the growth in this sector with the burgeoning domestic market, which is estimated to reach USD 400 billion by 2025 and the on-going global trade dynamics, especially in the technology space.

With its strengths in market, technology talent pool, rapidly growing competitive economy and positioning in global dynamics, India truly holds the potential to become the 'Electronics Factory' of the world, according to a statement here on Friday. (UNI)