The government is formulating a production linked incentive scheme to promote large-scale electronics manufacturing in segments including mobile phones and specified electronic components, Paliament was informed on Thursday.
Minister for Electronics and IT Ravi Shankar Prasad, in a written reply in the Rajya Sabha, said there has been no stagnation or slowdown in the electronics sector in the last two years.
A high-level committee under the chairmanship of CEO, Niti Aayog, comprising finance secretary, commerce secretary, secretary, Department for Promotion of Industry and Internal Trade (DPIIT); secretary, Ministry of Electronics and Information Technology (MeitY) and senior adviser of Niti Aayog was constituted to deliberate and give recommendations on making India a manufacturing hub for electronics, he said.
"Based on the deliberations of the aforesaid high-level Committee and an inter-ministerial sub-committee constituted thereafter, a Production Linked Incentive (PLI) Scheme is being formulated to promote large scale electronics manufacturing in target segments, namely, mobile phones and specified electronic components," Prasad said.
He said the government attaches high priority to electronics hardware manufacturing and it is an important pillar of both 'Make in India' and 'Digital India' programmes.
"As a result of several initiatives and pro-growth policies undertaken by the Government and efforts of the industry, India's electronics production has increased from Rs 1,90,366 crore in 2014-15 to Rs 4,58,006 crore in 2018-19, at a Compound Annual Growth Rate (CAGR) of about 25 per cent," he said.
The domestic electronics manufacturing is on a growth path, he added.