Huge growth in electronics manufacturing
India can reach $300 billion worth of electronics manufacturing and exports by 2025-26, a new IT Ministry report said. The electronics manufacturing industry grew from $37.1 billion in 2015-16 to $67.3 billion in 2020-21, The Vision Document 2.0 by the IT ministry said. It emphasized that products segments will cover mobile phones, IT hardware, consumer electronics, wearables and hearables, LED lighting etc
Shift in strategy
According to the document, there is a complete shift in strategy to “Make in India for the World”.India’s domestic electronics market is estimated to reach $150-180 billion over the next 4-5 years. This fresh outlook is aimed at transforming India’s manufacturing prowess by focusing on competitiveness, scale and exports.
