ELCINA Demands PLI Scheme For Non-Semiconductor Electronic Components
Date
10/3/2023 2:14:09 PM
(MENAFN- KNN India)
ELCINA Demands PLI Scheme For Non-Semiconductor Electronic Components
New Delhi, Oct 3 (KNN) The Electronic Industries Association of India (ELCINA) is urging the centre to come up with PLI scheme for non-semiconductor or computer chips sector.
According to a report by the industry body, total electronic component market in the country was estimated to be around USD 39 billion, of which 68 per cent requirement was met through imports in 2021-22.
Speaking at the 48th ELCINA Award Ceremony, President Atul B Lall said that the government's scheme for devices has been hugely successful and the incentive scheme for semiconductor sector is seeing a lot of traction and some investments have started flowing in.
"Our humble submission and perseverance is going to be to do the same for non-semiconductor component sector also. For which we request government's intervention,“he said.
According to the industry body, mobile phones, consumer electronics and industrial electronics account for the major demand (85 per cent) for electronic components in India. This is followed by computer hardware.
They said that strategic electronics and lighting industry contribute to the balance of the market and industries like mobile phones, industrial electronics (due to the advent of electric vehicles) and strategic electronics are expected to witness substantial growth in the near future.
The association's president pointed out that there is a need for separate PLI scheme for non-semiconductor components due to large variation in the market for these components.
"We can't treat this sector with one-size-fits-all kind of approach. Each sector has different financial market. It requires different treatment. We will be approaching government for its intervention," Lall added.
He said that the country needs some flag bearers like Apple in the mobile devices segment, and 40 years ago beginning of Maruti Suzuki led to auto-revolution in India.
"Same in the non-semiconductor space also, we need some very large investments," Lall said.
The government has implemented "the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors" (SPECS) to help offset the disability for domestic manufacturing of electronic components and semiconductors in order to strengthen the electronics manufacturing ecosystem in the country.
(KNN Bureau)
MENAFN03102023000155011030ID1107181785
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.