Indian Economy News

Govt forms advisory board to achieve $300-billion electronics manufacturing target by 2026

The Ministry of Electronics and Information Technology (MeitY) has constituted an advisory council to help India achieve its goal of being a US$ 300 billion electronics manufacturing hub by 2026.

The board, called the "Digital India Electronics Mission $300 Billion," is made up of representatives from key domestic and international electronics companies as well as industry associations. It succeeds a task force that focused solely on smartphone production that was setup in December 2014. The scope of the new organisation has been broadened to include other areas such as IT hardware, wearables, LED lighting, and so on.

The advisory board is helmed by Mr. Amitesh Kumar Sinha, Joint Secretary, Electronics, MeitY. The group also has Mr. Pankaj Mohindroo, Chairman, ICEA, and top executives from Lava, Samsung, Apple, HP, Dell, Foxconn, Intel and Coconics.

According to an ICEA report, mobile manufacturing must expand from US$ 30 billion in 2021 to US$ 126 billion by 2026, while IT hardware manufacturing must increase from US$ 3 billion to US$ 25 billion, and so on, in order to meet the US$ 300 billion target.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.