The Ministry of Electronics and Information Technology (MeitY) is planning to revise the National Policy on Electronics 2019 (NPE 2019) to rejuvenate India's electronics manufacturing industry and bolster exports. This revision aims to address the industry's current challenges and align with the goal of generating US$400 billion in revenue from the electronics system design and manufacturing (ESDM) sector by 2025.
The Union Cabinet had initially authorized this program five years ago. MeitY's vision document in 2022 targeted a production value of $300 billion by the financial year 2025-26 and exports of $130 billion by integrating India with global value chains. However, current estimates indicate that the existing policy may fall significantly short of these goals. In FY24, India's electronics exports were $30 billion, while production reached $115 billion.
To support domestic manufacturing in the electronics subsectors and promote the growth of the domestic capital industry, MeitY has established a working group. This group will focus on various key domains, including mobile phones, IT hardware, capital goods, components, consumer electronics, automotive electronics, medical electronics, industrial and strategic electronics, closed-circuit televisions (CCTVs), wearable and hearable devices, and LED lighting.
The working group includes prominent industry associations such as the India Cellular and Electronics Association, Manufacturers’ Association for Information Technology, Confederation of Indian Industry, Electronic Industries Association of India, and Consumer Electronics and Appliances Manufacturers Association. They will collaborate to address the sector's challenges and boost the industry's growth.
By revamping the NPE 2019, MeitY aims to tackle the discrepancies in the current policy and ensure that India's electronics manufacturing sector meets its ambitious targets.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
