Skewed duty structures will have to be set right in order to promote electronics manufacturing, Union Minister for Communications and Information Technology Ravi Shankar Prasad said on Monday
Speaking here at the MoU signing ceremony between National Association of Software and Services Companies (Nasscom) and India Electronics and Semiconductor Association (IESA), Prasad, however, acknowledged that to correct this anomaly structure, Finance Minister Arun Jaitley will have to be convinced.
Electronics manufacturing is on the rise and will drive India’s growth, revenue, and employment potential, Prasad said, adding that in-principle approval has been given to 21 electronic clusters in the country.
The MoU aims to push the share of electronics manufacturing and IT to 25 per cent of the country’s GDP by 2025.
The tie-up will create a common agenda that will guide the government and industry to construct policies and an environment leading to the creation of electronic system design and manufacturing and IT products, solutions and brands out of India.
Focus areas Vinay Shenoy, Chairman, IESA, said, “By joining forces, we are now better able to address 'Device-Infrastructure-Application' and the interplay between them. Initial focus areas are likely to be policy frameworks, enabling capability build up, knowledge sharing, ecosystem discovery and promotion.”
Under the MoU, both industry associations will bring key stakeholders and partners from industry, government, academia and investment community closer and identify key areas of investment.
The partnership also aims to establish ties foreign governments and international markets along with investment promotion to set up manufacturing and R&D operations in India.