“The initiative to make India an electronics repairs outsourcing hub is the next sunrise sector for the country with the potential to generate over 5 million new direct jobs,” the report added
According to a recent report by IT hardware industry body MAIT, developing India as an electronics hardware repair hub is expected to bring in USD 20 billion as annual revenue starting 2025, while also creating 5 million job opportunities.
“The electronic repairs market is projected to generate revenues of USD 20 billion per annum in next four years from now (from 2025 onwards), as it is foreseen to be among the largest and fastest-growing industry in the world,” the report said.
The initiative to make India an electronics repairs outsourcing hub, as per the report, can be proved to be one of the driving factors for promoting the economic growth of the country.
“With the aid of Make in India drive and other desired incentives, this billion-dollar industry shall result in incremental tax revenue generation for the government of India.”
According to the projection made in the report, grabbing this opportunity will lead to a spike in employment generation, investment from all over the globe, rise in income, and tax revenue that will ultimately contribute to USD 15-billion GDP addition per annum in the next four years from now.
The report made projections that highlight that tapping this opportunity would not only increase employment opportunities in the country, but also rise in income, global investments, and revenue in tax that will contribute to USD 15-billion GDP addition annually by 2025.
“The initiative to make India an electronics repairs outsourcing hub is the next sunrise sector for the country with the potential to generate over 5 million new direct jobs,” the report added.
