The electronics industry is working aggressively to enhance local manufacturing and reduce the extent of imported electronics goods to 50 per cent of the demand in 2016-17; it hovers at 65 per cent, according to Ashok Chandak, president of India Electronics & Semiconductor Association here on Monday.
At present, the country consumes electronic products worth $ 90 billion and going by the current growth pattern of 10 per cent a year, this could increase to $ 400 billion in five years.
Initiatives such as the ‘Make in India’ and programmes for electronics manufacturing clusters and start-up development of the DeitY (Department of Electronics & Information Technology) can drive electronics manufacturing, Mr. Chandak said during the two-day 10th annual IESA summit here on Monday. The dream is to have zero electronics imports, he said. Mr. Chandak said DeitY had approved 28 proposals offering to invest $ 1 billion (about Rs. 6,000 crore) in this sector under the M-SIPS (modified special incentive programme).
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Of them, three Bengaluru companies that have got the approval were honoured at the inaugural event: Bosch Automotive Electronics Ltd., Tejas Networks and Tessolve, which plan to totally invest about Rs. 1,700 crore in new initiatives. Chief Minister Siddaramaiah, who released IESA’s ‘Disability Report 2015’ on non-competitiveness in this industry, said Karnataka aims to be the country’s most vibrant hub for electronics manufacturing.
Former ISRO Chairman K. Radhakrishnan said the space agency imported 10 to 35 per cent of its electronics requirements for launch vehicles and satellites in that order. Omkar Rai, Director-General of STPI, said Bengaluru would get the first characterisation and testing laboratory this month.
DeitY has approved 28 proposals offering to invest $ 1 billion in the sector under the modified special incentive programme
Ashok Chandakpresident of IESA