‘Electronics production, exports to grow massively in the next 4-5 years’

With the government’s push for electronics manufacturing, India is likely to produce 11.5 lakh crore more electronic products in the next four to five years and exports will be over 8 lakh crore, according to Union Electronics and Information Technology Secretary Ajay Sawhney.

Speaking at the Vision

Summit 2020 organised by the India Electronics and Semiconductor Association (IESA), he also noted that the government has received good interest from several players under the production linked incentive (PLI) scheme.

“We have been making efforts to grow the entire ecosystem. Last year, we were able to bring out the National Policy on Electronics 2019. Even during the pandemic, we came out with schemes that were made available from April 2 and in June, we opened for applications. The responses met our expectation - in fact, it was higher than what we had expected at the inception of the scheme,” Sawhney said.

“Over the next 4-5 years’ time, we expect the incremental production, over and above the base year 2019-20, to be around 11.5 lakh crore and the exports to be more than 8 lakh crore during this period,” he added.

According to Satya Gupta, IESA Chairman and CEO of Seedeyas Innovation, electronics is the most important and key tool for inclusive growth and semiconductors is the greatest enabler of prosperity, achieving the long cherished goals of “doubling income of farmers, healthcare for all, education for all” among others, for the country.

“We should synergise and collaborate towards the goal of creating an ‘Electronics Products Nation’ and make India the global powerhouse for electronics and semiconductors. The concrete sentiment to innovate, deliver and compete should become the mantra for building a self-reliant nation,” Gupta said.

The Indian food industry is creating immense value addition, particularly within the food processing industry on the back of huge potential for future growth. The Indian food and grocery market is sixth largest in the world with retail accounting for 70% of the total sales. The Indian food processing industry accounts for 32% of the country’s total food market and is ranked fifth in terms of production, consumption and exports. It contributes around 8.80% and 8.39% of Gross Value Added (GVA) in Manufacturing and Agriculture respectively, 13% of India’s exports and 6% of total industrial investment. Agriculture is the primary source of livelihood for half