Mos IT Asserts Electronics Export To Surpass Rs 1.28 Lakh Cr In FY24

(MENAFN- KNN India) MoS IT asserts electronics export to surpass Rs 1.28 lakh cr in FY24

New Delhi, Jan 30 (KNN) With a new production-linked incentive (PLI) scheme for hearable-wearable, IT hardware and component makers, export of electronics is expected to cross Rs 1.28 lakh crore in the next fiscal year, said Minister of State for Electronics and IT Rajeev Chandrasekhar.

In an interview with PTI, the minister said the government with a new PLI scheme for hearable-wearable, IT hardware and component makers is aiming to broaden and widen the electronics manufacturing ecosystem.

“Electronics manufacturing as a whole, we see next year that it will at least do exports worth Rs 1.28 lakh crore. I have already said that we will see mobile phone exports reaching Rs 1 lakh crore in 2023-24,” he said.

Mobile being the fastest-growing segment in electronics globally there has been a major focus on it, he added.

'Value addition in manufacturing is a function of scale. First, you need to hit the scale. The component industry is the one which does value addition. Components will not come if the scale of manufacturing is not there. The next stage of our PLI is to get components PLI, hearable-wearable PLI and the IT server PLI,' the minister said.

He further assured that the government will do 100 per cent hand-holding of component players to boost the local ecosystem.
(KNN Bureau)


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