New electronics policy to have renewed focus on creating Indian brands, products
Subscribe to enjoy similar stories. Creating Indian brands with ‘priority’ products for the local as well as global markets is likely to be a key focus area of the upcoming national policy on electronics. The aim is to identify and push products with high value addition and design capabilities within the country.
According to several people aware of the stakeholder consultations being led by the ministry of electronics and information technology (Meity), the priority products would be identified along with their supply chains, including components and semiconductors. Two of the people cited above said on condition of anonymity that a fund of funds is being proposed along with an intellectual property (IPR) pool to facilitate creation of such brands and products. One of them added that some industry associations have pegged the funding required for the plan to be about ₹1 trillion.
A senior government official said the policy’s broad mandate will be in line with increasing local value addition to 35-40%, getting global value chains to India, and making India an export hub for electronics and components to global markets. It would also include the larger goal of meeting the needs of the $500-billion domestic market for electronics by 2030 articulated by the prime minister earlier this month, the official added. The products would span multiple categories including smartphones, home appliances, consumer electronics, hearables, wearables, among other consumer electronics categories.
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