Given the ‘unforeseen and unprecedented’ challenges brought by the pandemic, India is likely to achieve electronics production of $300 billion by 2026, lower than the target of $400 billion by 2025 set as per the National Policy on Electronics (NPE) 2019, according to a vision document.
The document was released by Ministry of Electronics and IT (MeitY) in association with the India Cellular & Electronics Association (ICEA).
However, the reduced target still aims for a 400% increase from the current level, the document noted, adding that electronics manufacturing had grown from $37.1 billion in 2015-16 to $67.3 billion in 2020-21
“There are various challenges being faced by the industry across qualitative (non-tariff, infrastructure related) and quantitative (tariff, free trade agreements etc.) aspects and need to be addressed in toto to ensure that manufacturing in India is resilient, globally competitive and able to undertake operations at massive scale,” as per the document.