New Delhi, March 26 (IANS). The production linked incentive (PLI) scheme is increasing the export of India’s electronics sector, as well as global investors are also increasing interest in the manufacturing sector of the country. Ashok Chandal, President of India Electronics and Semiconductor Association (IESA), made this statement in an exclusive conversation with IANS on Wednesday.
He said that PLI has not only promoted local production, but India has also become an attractive destination for global investors.
Chandal said, “The government’s policies have filled the industry gap, which has enabled to compete with established manufacturing centers such as India, China and Vietnam.”
He said that the increasing domestic demand of electronics in the country has further promoted local manufacturing.
Government initiatives like PLI scheme and ‘Make in India’ have played an important role in making Indian electronics manufacturing cost-competitive.
Chandal said, “These Initiatives have removed the cost inequalities that used to force India to lag behind in electronics manufacturing.”
He said that the Government of India has recently started distributing the benefits available under the PLI scheme in various fields including electronics, semiconductor, automotive and pharmaceuticals.
He added, “This proves that the government is committed to its promises, which will promote further investment and manufacturing expansion.”
With the arrival of PLI scheme, companies like Apple in the country have expanded their manufacturing capacity.
Chandal said that Apple’s contract manufactures such as Foxconn and Pagatron (Tata Group share company) would help India to make India a high-tech manufacturing hub.
He further said that smartphone exports are playing an important role in the country’s electronics exports, while the export of other goods is gradually increasing. There are immense possibilities of export in automotive electronics, electric vehicles (EVs), medical devices, industrial IOT and consumer electronics. India’s electronics market is expected to reach $ 500 billion by 2030, which will create a lot of export opportunities. However, increasing price enrichment at the domestic level remains a major priority. India will have to strengthen its supply chain and increase R&D capabilities.
-IANS
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