Indian Government to develop 500 champion MSMEs in electronic sector

World Trade Center Mumbai has organised a virtual discussion on the release of MVIRDC Research Study on ‘Promoting Electronic Manufacturing’.

While releasing a MVIRDC Research Study on ‘Promoting Electronic Manufacturing’,  Saurabh Gaur, Joint Secretary, Ministry of Electronics & Information Technology (MoEIT) informed “Government of India is taking efforts to develop 500 champion MSMEs in the electronic sector. Global and Indian electronic companies have committed USD 100 billion production, 80% of which is for exports, under the production linked incentive scheme so far.”

This revenue positive scheme will create 2.5 lakh direct and indirect employment and also generate significant tax revenue for the government. In the last two months, the ministry received 44 applications under another scheme, known as SPECS, which provides capital subsidy for investors, he said.

Dr. Ajai Chowdhry, Founder – HCL, Padma Bhushan Awardee (2011) said, “India has the potential to capture a significant size of the USD 360 billion global market for IT and datacom products. The government of India should support manufacturers of desktops, tablets, networking products by providing production linked incentives (PLIs). India should aim for indigenous design and production, right from chip to the entire electronic system.”

“India should start domestic manufacturing of semiconductors, by initially creating capacity for high volume segments such as 28 nanometer plant and then gradually moving up the value chain.”, he added.