India's Electronics Manufacturing Advancement
India is enhancing its electronics manufacturing capabilities systematically, aiming to achieve a 38% value addition target within five years.
Current Achievements and Support
- India's electronics manufacturing is valued at approximately $145 billion, growing at a CAGR of 20%.
- Value addition has already exceeded 20% over six to seven years, targeting over 30% in the next two to three years.
- Support comes from countries like Taiwan, the US, and South Korea, supplemented by local engineers.
Challenges and Strategies
- Foxconn's repatriation of 300 Chinese engineers due to Chinese government directives presents operational challenges.
- India is developing its supply chain to mitigate reliance on foreign expertise and manage geopolitical risks.
Key Initiatives
- India Semiconductor Mission: Worth ₹76,000 crore to build semiconductor capabilities.
- Components Incentive Program: ₹23,000 crore initiative announced earlier to bolster component manufacturing.
Future Prospects
- India aims to service global telecom manufacturers through the Tata Electronics chip assembly plant in Assam.
- Micron unit in Gujarat will supply memory chips; power electronics will be produced by the CG plant in Gujarat.
Minister emphasized the importance of making social media accountable for content and expressed readiness to amend legal frameworks if necessary to address misinformation.