ET World Leaders Forum | Govt to launch new scheme for domestic electronics component manufacturing says Vaishnaw
scheme to help set up a sustainable electronics component ecosystem in India, union minister for electronics and Information Technology, Railways, and Information Broadcasting Ashwini Vaishnaw said.
Speaking at the inaugural session of the World Leader Forum 2024, Vaishnaw said that more than 99% of all mobile phones used in India were being manufactured domestically.
“This year Apple will be manufacturing their latest model in India. The value of electronics manufacturing in India had increased to $105 billion as of 2022-23, up from $29 billion in 2013-14. We are preparing a program where the component ecosystem can now come in the way electronics and mobile manufacturing has come in,” he said.
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The government is likely to allocate up to Rs 40,000 crore for an electronics component manufacturing scheme, likely to be rolled out later this year. The government expects successful applicants under the scheme to invest around Rs 82,000 crore in total while the total value of components produced by these companies could be between Rs 1.95-2 lakh crore during the duration of the scheme.
The government’s focus on infrastructure spans over three areas which include development in physical infrastructure, progress in digital infrastructure and improvements in social infrastructure.
Speaking of the progress in physical infrastructure of the country, Vaishnaw said that the government had approved rail, road,
