Home Business New Schemes In Works For Electronics Component Manufacturing: MeitY Secretary | Arabian Weekly

New Schemes In Works For Electronics Component Manufacturing: MeitY Secretary | Arabian Weekly

0
New Schemes In Works For Electronics Component Manufacturing: MeitY Secretary | Arabian Weekly

[ad_1]

NEW DELHI: Government on Monday said that since 99 per cent local mobile phone market is being met through domestic manufacturing now, companies need to export by improving competitiveness and enhancing value addition, for next phase of growth.

Government’s focus is now on boosting electronics component manufacturing in the country and new scheme for the same is in works, S Krishnan, Secretary, Ministry of Electronics and IT (MeitY), said.

Speaking at the CII Electronic Summit, he said, “If our competitiveness needs to keep getting better then the challenge really is to not just rely on about 10 to 15 per cent of the value addition to assembly units in the country but to look at what else we can do, how can we move up in the value chain?”

He said no one country is ever going to own the entire value chain and it’s only going to be a portion of the value chain that India needs to target.

“Probably in India’s case, the best case will be China which has about 40 to 45 per cent of the entire value chain, which is manufactured in China. We could possibly thinking of about somewhere in the same region of 35 to 40 per cent of the entire value chain,” he said.

Krishnan said that the government is working on a second version of incentive scheme for electronics components — Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS).

“Earlier MSIPS (modified special incentive package scheme) was launched. Now SPECS 1.0 has been implemented for components. We are working on next SPECS…that will be done after taking issues of electronics industry into consideration,” he said.

He added that the industry should also look at producing capital equipment required for electronics manufacturing locally.

Source: The Hindu Business Line

The post New Schemes In Works For Electronics Component Manufacturing: MeitY Secretary first appeared on Latest India news, analysis and reports on IPA Newspack.

[ad_2]

Source link