Chandrasekhar said in 2014-15, the electronics production in the country was about Rs 1.8 lakh crore which grew to Rs 5.5 lakh crore in five years
With the electronics manufacturing sector getting a much-needed push through the government’s various schemes and policies, Minister of State for Electronics and IT Rajeev Chandrasekhar has said that the Centre expects the sector to reach around USD 300 billion (about Rs 22.5 lakh crore) by 2024-25.
The minister was speaking at an event by the Public Affairs Forum of India (PAFI) where he noted that electronics is the second largest traded commodity after hydrocarbons and petroleum.
In this purview, he added that the government is looking beyond devices and communication, with expansion plans looking at equipment and systems, and further to automotive and medical equipment.
Chandrasekhar said in 2014-15, the electronics production in the country was about Rs 1.8 lakh crore which grew to Rs 5.5 lakh crore in five years.
“We were marginal players for decades but we have grown on the back of very precise policy action…,” Chandrasekhar said.
He further said in the USD 1.5 trillion global electronics market where there is clamour for a diversified and trusted supply chain, the government has now decided that India should be a significant player in that space.
“Our ambitions are reasonable. We believe that by 2024-25, we want to be at about USD 250-300 billion worth of electronics manufacturing in India,” Chandrasekhar said.
The national electronics policy had set a target to create a USD 400 billion electronics manufacturing ecosystem by 2025.
The minister also said India will be a very significant provider of trusted goods and services to the global market.
