‘This is Y2K moment for digital economy and its stakeholders’
India has been working to build a required ecosystem to become an electronic manufacturing hub and a trusted player in the global value chain, said Rajeev Chandrasekhar, Minister of State for Electronics and IT and Skill Development and Entrepreneurship.
According to Mr. Chandrasekhar, during 2014-15, the country had electronic production worth ₹ 1.8 lakh crore, which reached ₹ 5.5 lakh crore now, five years later.
“We were marginal players for decades, but supportive policies have helped the sector grow. By 2024-25, we want our electronic manufacturing industry to touch $250-300 billion,” he said.
Explaining India’s ability to deliver on the global demand of diversified supply chain, Mr. Chandrasekhar said, “We see India being a very significant provider of trusted goods and service to the global market. There is an opportunity and we are acting on it. This is Y2K moment for digital economy and its stakeholders.”
The union government was looking beyond devices and communication to expand to equipment and system manufacturing for diverse industries including automotive and healthcare, the minister added, while speaking at a session on “Reviving the Economy: Reimagine. Reboot. Reform” at the Public Affairs Forum of India.
On manufacturing of semiconductors, Mr. Chandrasekhar said, India wanted to become a serious player in electronic manufacturer and was not looking at mere ‘headline-grabbing’ initiatives.
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