ENA Sectors 2025-02-10 15:00:06 <p><span style="font-size:14px"><strong>New Delhi, Feb 10 (KNN)</strong> India must significantly expand its electronics exports to maintain competitiveness in global value chains, according to S Krishnan, Secretary of the Ministry of Electronics and Information Technology(MeitY). </span></p> <p><span style="font-size:14px">This strategic imperative comes as domestic production alone proves insufficient for the nation's ambitious growth targets in the electronics sector.</span></p> <p><span style="font-size:14px">The ministry has outlined a comprehensive vision for 2025, targeting USD 500 billion in industry revenue, with USD 350 billion expected from finished products and USD 150 billion from component manufacturing. </span></p> <p><span style="font-size:14px">Krishnan emphasised that government support must extend beyond subsidies and tariff protection to foster globally competitive manufacturing capabilities.</span></p> <p><span style="font-size:14px">In a significant policy stance, Krishnan advocated for strategic partnerships between Indian manufacturers and Chinese firms to develop a resilient world-class supply chain. </span></p> <p><span style="font-size:14px">He drew parallels with China's development trajectory, noting how manufacturing cycles led to technological learning and skill acquisition, suggesting India should follow a similar path of manufacturing for others before advancing to independent design and production.</span></p> <p><span style="font-size:14px">The ministry's 2025 agenda encompasses several crucial initiatives, including the successful implementation of the Production Linked Incentive (PLI) scheme for IT hardware manufacturers and the effective execution of projects under the India Semiconductor Mission (ISM). </span></p> <p><span style="font-size:14px">Additional focus areas include advancing the artificial intelligence mission and launching both the components scheme and ISM 2.0.</span></p> <p><span style="font-size:14px">Addressing the current state of electronics manufacturing, Krishnan noted that India accounts for merely 2-3 percent of global production. </span></p> <p><span style="font-size:14px">While domestic production currently meets local market demand, particularly in the mobile phone segment, exports remain concentrated among a few companies, with Chinese manufacturers dominating the landscape.</span></p> <p><span style="font-size:14px">Regarding regulatory frameworks, Krishnan indicated that while the IT Act remains relevant, the government is maintaining a balanced approach toward emerging technologies like artificial intelligence. </span></p> <p><span style="font-size:14px">He emphasised that new legislation would only be introduced when necessary to address specific risks and concerns, with the current focus remaining on innovation and economic growth potential.</span></p> <p><span style="font-size:14px">The secretary underscored the strategic importance of electronics as the largest manufacturing sector, noting its integral role across industries. </span></p> <p><span style="font-size:14px">Given India's substantial population and market potential, he emphasised the necessity of establishing a strong domestic presence while maintaining global competitiveness to ensure Indian consumers have access to high-quality products at internationally competitive prices.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span><br /> </p> 41003 https://knnindia.co.in/news/newsdetails/sectors/govt-sets-usd-500-bn-revenue-target-for-electronics-sector-by-2025-meity-secretary 2025-02-10 15:00:06 knnindia.co.in