The Information Communication Technology & Electronics (ICTE) industry in India is witnessing an uninterrupted growth in consumption, which is presently placed at USD 100 Billion. While over two-thirds of the consumption is met through imports, it is also an indication of the huge potential for ICTE manufacturing in the country. India can become a major player in the global ICTE production market if it seizes the opportunity that the changing global market presents. Currently India accounts for 2% of the global ICTE Manufacturing.
ICTE production which accounts for about 10% of the manufacturing GDP in India, and can become the key driver for achieving the growth of the manufacturing sector.
Recognizing the importance and the need for domestic electronics manufacturing, Government announced the National Policy on Electronics in 2012. The strategies outlined in the Policy are aimed at creating an eco-system for a globally competitive electronics system design and manufacturing (ESDM) sector. The objective is to achieve a turnover of about USD 400 billion by 2020 involving investment of about USD 100 billion and additional employment for around 28 million people. With Government’s emphasis on creating a conducive environment for Investments, this industry can significantly contribute towards meeting the national objective of raising the share of manufacturing sector to 25% of the national GDP by 2022.
In addition to this, the Government has announced several policies & schemes like Modified Special Incentive Package Scheme, Electronic Manufacturing Clusters Scheme, Preference for domestically manufactured electronics products(DMEP) in Government purchases, the Electronics and Information Technology Goods (Requirements for Compulsory Registration) Order, 2012 to safeguard consumer interest, Electronics Development Fund (EDF), etc.
The Information Communication Technology & Electronics (ICTE) industry in India is witnessing an uninterrupted growth in consumption, which is presently placed at USD 100 Billion. While over two-thirds of the consumption is met through imports, it is also an indication of the huge potential for ICTE manufacturing in the country. India can become a major player in the global ICTE production market if it seizes the opportunity that the changing global market presents. Currently India accounts for 2% of the global ICTE Manufacturing.
ICTE production which accounts for about 10% ...