India lacks a clear exports-driven electronic hardware manufacturing strategy: Report

BENGALURU: Despite the Centre’s push for the Make in India initiative, the electronic hardware industry in India is still largely driven by imports and suffers from various disabilities, a report by the Manufacturers’ Association of Information Technology (MAIT) released recently said.

The report suggested that India lacks a clear exports-driven electronic hardware manufacturing strategy, which has put a lot of onus on other sectors to give a fillip to the economy.

The country has set a target for its manufacturing sector to contribute 25 per cent of the GDP by 2025 as a part of the government’s goal of achieving a $5 trillion economy. Today, 50 per cent of the manufacturing GDP is from the auto sector, creating the need to de-risk India’s growth strategy by developing other sectors, the report said.