Economy

‘More incentives in the offing for electronics manufacturing’

Our Bureau Pune | Updated on March 02, 2021

The government is offering financial support of $25 billion for making India a global hub for electronics manufacturing and some schemes are expected to come out soon amounting to be $5 billion said Atif Khan, a scientist with the Ministry of Electronic and Information Technology.

Khan was speaking at the Pune International Business Summit organised by Mahratta Chamber of Commerce, Industries and Agriculture (MCCIA).

Electronic sector growing

“There is two and a half times growth in domestic electronic production in five years and the cumulative domestic electronic production was nearly $29 billion in 2014-15 which increased to $74 billion in 2019-20” said Khan. “ Our target for the domestic electronic market is to reach $400 billion by 2025, mobile phone market to $190 billion and PC and tablets to $40 billion” he said.

“We are now on the path to becoming a $5 trillion economy by 2025. Other allied sectors have huge potential for growth. Similarly for the IT-BPM sector, it is expected to grow $350 billion” said Khan.

Rural users increasing

He added that in the last few years internet users in rural areas have surpassed the number of users in urban areas. Internet pernetration in urban areas has almost reached saturation.

“We have seen 93 times growth in data consumption and a 99 per cent decline in mobile data prices. The average monthly mobile data consumption per user in 2018 was around 8.3 gigabytes. This was possible due to the low price of the data.

Published on March 02, 2021

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