Government eyes Rs 26-lakh cr electronics manufacturing ecosystem, 1 cr jobs by 2025 under new policy

The Union Cabinet Tuesday approved a new national electronics policy with an aim to create a Rs 26-lakh crore electronics manufacturing ecosystem and generate 1 crore jobs in the country by 2025. “National Electronics Policy came in 2012. Now, we are revising it completely as National Electronics Policy 2019. We are targeting USD 400 billion (ecosystem) by 2025. It will give jobs to 1 crore people,” Law and Information Technology Minister Ravi Shankar Prasad said after the Cabinet meeting.

The overall target will include production of 100 crore mobile handsets by 2025, valued at about Rs 13 lakh crore, including 60 crore mobile handsets valued at nearly Rs 7 lakh crore for export. Our government came in May 26, 2014. in 2014-15, electronic production growth in country was 5.5 per cent.

In 2017-18, electronic production growth increased to 26.7 per cent as compared with 5.5 per cent in 2014-15, when the current government came into power, Prasad said. “Now, we want to take it to 32-33 per cent,” he added. The government plans to provide interest subvention and credit guarantee scheme to ease financial burden on domestic manufacturers, he said.