India's electronics exports to reach USD 120 billion by 2025-26: Rajeev Chandrasekhar
India's electronics exports would reach USD 120 billion by 2025-26 and that would happen with state governments partnering with the Government of India, Union Minister Rajeev Chandrasekhar said on Friday.
The country's electronics manufacturing was valued at USD 70-75 billion and Prime Minister Narendra Modi has set a target to reach USD 300 billion by 2025-26, the Minister of State for Entrepreneurship, Skill Development, Electronics and Technology said at an event here.
India which was importing 90 per cent of its mobile phones till 2014 is now catering to 97 per cent of all mobile phones that are consumed in India, Chandrasekhar said at the inauguration of Pegatron Technology India Pvt Ltd, new state-of-the-art manufacturing unit at Mahindra World City, Singaperumalkoil in neighbouring Chengalpet district about 45-km from here.
Pegatron Technology India is wholly-owned subsidiary of Taiwan-based Pegatron Corporation. The manufacturing facility has been set up at an investment of Rs 1,100 crore that would create about 14,000 new jobs in the region, officials said.
''India had zero exports of mobile phones till 2014 and now exports over Rs 50,000 crore (worth of) i-Phones, Samsung phones and other phones to consumers and other countries. That is the journey in the last 8 years from zero exports to Rs 50,000 crore exports and from 90 per cent imports to 97 per cent of domestically manufactured,'' he said.
However, he cautioned that what India achieved was a 'tip of the iceberg'.
''We are exporting USD 16-20 billion of mobile phones by 2025-26 our exports in electronics will be USD 120 billion. That is six times and it will happen because of state governments partnering with Government of India and availing the schemes that Prime Minister Narendra Modi has put out like the PLI schemes, to attract investments,'' he said.
Chandrasekhar said with the country's goal of reaching USD 1 trillion economy by 2025-26, electronics manufacturing would play a big part in it.
The inauguration of the Pegatron facility and success of many other manufacturing units in Noida, Karnataka, Maharashtra, Andhra Pradesh was a message to rest of the world that the Indian government and state governments are determined to create an environment conducive for investments, he said.
Extending his gratitude to the management of Pegatron for setting up the unit in India, he assured the government of India's support towards achieving the goal of USD 300 billion that Prime Minister Narendra Modi has laid out as the electronics manufacturing target in the coming years. ''At the inauguration of Pegatron's new electronics manufacturing unit at Chengalpet, another milestone towards PM Narendra Modi vision of making India a global electronics manufacturing hub. Team India - States can partner with Government of India to create economic opportunities and growth,'' he said and shared images of the inauguration on Twitter later.
Earlier, Chief Minister M K Stalin along with Minister for Micro, Small and Medium Enterprises T M Anbarasan in the presence of Chandrasekhar and Pegatron Technology India Pvt Ltd Chairman Jian Jong Cheng, Managing Director Chiu Tan Lin unveiled a plaque marking the inauguration.
The facility has been set up at an investment of Rs 1,100 crore and would generate nearly 14,000 new jobs in the region, Anbarasan said.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
- READ MORE ON:
- Electronics and Technology
- Pegatron Technology India Pvt Ltd
- Chiu Tan
- Pegatron Technology
- Narendra Modi
- India Pvt Ltd
- Jian Jong Cheng
- Mahindra World City
- Rajeev Chandrasekhar
- Government of India
- Medium Enterprises T M Anbarasan
- State for Entrepreneurship
- Skill Development