India is looking to increase its electronics manufacturing capacity significantly in the next few years, with the goal of achieving Rs. 24 lakh crore by 2026. The Ministry of Electronics and Information Technology (MeitY) has set an ambitious target, and the government is taking steps to make it a reality.
India has been making strides in the electronics manufacturing sector in recent years, with the government’s “Make in India” initiative aimed at promoting domestic manufacturing and reducing dependence on imports. The country’s electronics manufacturing sector has been growing rapidly, with the industry expected to reach $228 billion by 2025 to 2026.
The government’s latest move is part of its larger plan to make India a hub for electronics manufacturing, with the aim of creating jobs, boosting exports, and reducing the country’s trade deficit. The government has already taken several steps to support the growth of the electronics industry, including providing financial incentives, streamlining regulations, and setting up electronics manufacturing clusters.
To achieve its target of Rs. 24 lakh crore electronics manufacturing capacity by 2026, the government is planning to focus on several key areas. These include promoting research and development in electronics, attracting foreign investment, encouraging innovation, and developing a skilled workforce. The government is also looking to expand the use of electronics in various sectors, including agriculture, healthcare, and transportation.
The government’s efforts to boost electronics manufacturing are already bearing fruit, with several global companies setting up manufacturing units in India. These include Apple, Samsung, and Foxconn, among others. The government is also working with Indian companies to develop indigenous electronics products, such as smartphones, laptops, and smart TVs.
While India has made significant progress in the electronics manufacturing sector, there are still challenges that need to be addressed. These include improving the ease of doing business, addressing the skills gap, and addressing infrastructure issues. However, with the government’s commitment and focus on this sector, India is well on its way to becoming a major player in the global electronics industry.
In conclusion, India is aiming to achieve a significant increase in its electronics manufacturing capacity in the next few years, with the goal of reaching Rs. 24 lakh crore by 2026. The government’s efforts to promote domestic manufacturing, attract foreign investment, and develop a skilled workforce are key to achieving this target. While there are challenges to be addressed, the government’s focus on this sector is a positive sign for the future of electronics manufacturing in India.
