India's Electronics Manufacturing Future: Boosting Employment and Building 'Viksit Bharat 2047'

The Indian government is in talks with tech and electronics firms to finalize the next production linked incentive scheme. Union Electronics and IT Minister, Ashwini Vaishnaw, highlights initiatives fostering employment growth across electronics, AI, and GCC sectors, with a target to reach 1.5 crore jobs soon.

The Indian government is engaging with mobile phone producers, IT companies, and electronics manufacturers to develop the next phase of the production linked incentive scheme. Union Electronics and IT Minister Ashwini Vaishnaw revealed these efforts are aimed at gaining Cabinet approval following budget reforms that promise significant job creation across electronics, AI, and GCC sectors.

The forthcoming budget outlines projects like the Rs 40,000-crore component scheme and AI data centre tax holidays, leveraging India's position as a global hub for digital infrastructure investments. A projected growth from one crore to 1.5 crore jobs within two years is anticipated, attributed to the thriving electronics, AI, and GCC spaces.

Minister Vaishnaw expressed optimism about India's growing electronics manufacturing capabilities. Notably, electronics exports have multiplied eight-fold, and electronics items rank third among India's leading exports. The advancement in semiconductor manufacturing signifies a self-sufficient future, fulfilling a six-decade-old aspiration.

(With inputs from agencies.)