India Eyes $300 Billion Electronics Manufacturing Ecosystem With $120 Billion Of Exports By 2026

Union Minister of State for Electronics and Information Technology Rajeev Chandrasekhar on Monday (29 August) said that the Prime Minister Narendra Modi-led Central government has clearly laid out a goal of $300 billion electronic products with exports of $120 billion dollar by 2026.

The minister on Monday launched a report titled ‘Globalise to Localise: Exporting at Scale and Deepening the Ecosystem are Vital to Higher Domestic Value Addition’.

The report prepared by India Council for Research on International Economic Relations (ICRIER), in collaboration with India Cellular and Electronics Association (ICEA) explores how India can achieve electronics production target of $300 billion and exports of $120 billion by 2025-26.

"The Government is laser focused on achieving the target of $300 billion electronic production by 2026. And for this, we have always emphasised on strengthening our domestic manufacturing ecosystem to make India more resilient to supply chain disruptions," said Rajeev Chandrasekhar while addressing the event.

He said that the report is very timely and will help the government identify the challenges that are to be met and the strategies that are to be adopted to achieve this target.

The minister said that India has succeeded in systematically building a framework and a strategy that has clearly outlined our goals of a $300 billion electronics manufacturing ecosystem with a $120 billion dollars of exports by 2026, according to a Ministry of Electronics and IT release.

He said that electronics in India has travelled a long way since 2014.

We were, in 2014, a country that was increasingly dependent not just on petroleum imports but also on electronics imports. Systematically Prime Minister Narendra Modi over the years has built back an electronics sector, he said.

Today we are, as a consequence of policies of government led by PM Modi, a $76 billion dollar manufacturing economy with 16 billion dollar of exports, with a target of $21-25 billion dollars of exports in next year, the minister said.

But most importantly by 2026, we have clearly laid out goal of $300 billion manufacturing with a 120 bn dollar of exports, he said.