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Minister of State for Electronics and IT Rajeev Chandrasekhar has said electronics manufacturing in the country is expected to cross Rs 1.28 lakh crore in the next financial year. The minister said the government is now going to broaden and widen the electronics manufacturing ecosystem with a new production-linked incentive scheme for hearable-wearable, IT hardware and component makers.

He mentioned ‘Electronics manufacturing as a whole, we see next year that we will at least do Rs 1.28 lakh crore. I have already said that we will see mobile phone production reaching Rs 1 lakh crore in 2023-24.’ He added there has been a focus on mobile phones because it is the fastest-growing segment in electronics across the world.

Further, he stated ‘Value addition in manufacturing is a function of scale. First, you need to hit the scale. The component industry is the one which does value addition. Components will not come if the scale of manufacturing is not there. The next stage of our PLI is to get components PLI, hearable-wearable PLI and the IT server PLI.’ He noted the government will do 100 per cent hand-holding of component players to boost the local ecosystem.