India’s electronics production reaches all-time high at Rs 5,33,670 crore in FY21
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IT and Communications Minister Ashwini Vaishnaw has said that electronics production in India grew at a compound annual growth rate of 17 percent in the last 5 years and reached its all-time high at Rs 5,33,670 crore in 2020-21. He said that many policies of the government including the flagship Production Linked Incentive (PLI) scheme, Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors ( electronics production), Modified Electronics Manufacturing Cluster (EMC 2.0) are major steps towards making India 'atmanirbhar' in electronics manufacturing. As a result, domestic electronic production has increased from Rs 1,90,366 crore in 2014-15 to Rs 5,33,670 crore in 2020-21.
The minister stated that the growth in production remained almost flat in 2020-21 compared to production worth Rs 5,33,550 crore in 2019-20. The import of electronics chips fell 5.7 per cent to Rs 67,496 crore in 2020-21 from Rs 71,581 crore in 2019-20 and export increased by 17 per cent to Rs 2,064 crore from Rs 1,752 crore in 2019-20.
He said the government has approved an application for setting up of Assembly, Testing, Marking and Packaging (ATMP) of NAND Flash memory under the PLI scheme for large scale electronics manufacturing. He added that PLI for 'Large Scale Electronics Manufacturing' offered a production linked incentive to boost domestic manufacturing and attract large investments in mobile phone manufacturing and specified electronic components, including ATMP units.
