India's electronics production on accelerated path, accounts for 3.3 per cent of global market
- IBEF
- July 19, 2019
India's electronic production is evaluated at Rs 4.58 lakh crore (US$ 63.62 billion) in 2018-2019.The domestic electronic hardware producing sectors faces absence of level-playing field against competing nation because of "several incapacities which render the sector uncompetitive", said by minister for electronics and IT Ravi Shankar Prasad.
To an inquiry on whether the government is satisfied with the current level of contribution of Indian electronics industry to global market.
The government and industry, have taken a slew of initiative; as a consequences of which generation of electronics in India has risen to an expected Rs 4.58 lakh crore (US$ 63.62 billion) in FY19, developing at a compound annual growth rate (CAGR) of around 25 per cent over the most recent four years, compared with a rate of 5.5 percent in 2014-2015.
The National Policy on Electronics 2019 plans to advance local assembling and fare in the whole worth chain of Electronics System Design and Manufacturing (ESDM) to accomplish a turnover of Rs 26 lakh crore (USD 400 billion) by 2025.
"India's gadgets creation during 2018-2019 is assessed to be Rs 4,58,006 crore (US$ 70 billion) while the global electronic generation is evaluated to be of the order of Rs 136 lakh crore (US$ 2.1 trillion), Subsequently, India's offer in the global electronic production is about 3.3 per.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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