It is kind of surprising to know that India’s electronics goods import bill is the second highest paying bill after the imports of oil. According to DGCIS, in 2020, India invested 33Billion USD for the imports of electronic goods. The country which is known as one of the youngest countries in the world has millions of talents supporting for growth in the electronic sector, we lack at providing raw electronic materials to the arising manufacturing companies. Still, there is a lot of scopes to achieve the mark of manufacturing in semiconductor technology, embedded systems, telecommunications, digital devices, cybersecurity, robotics, and human-computer interaction systems.
‘Make in India’ initiative has recently welcomed a joint venture by Reliance Industries and Sanmina Corporation. A subsidiary of Reliance Industries—Reliance Strategic Business Ventures Limited (RSBVL) has taken a big decision to invest more than 220M USD in Sanmina Group, a manufacturing solution company based in the USA. This collaboration aims to grow significantly in the electronics manufacturing market by supporting innovation and focusing on more production.
Current Situation in India
India has taken lots of initiatives to reduce the dependencies of electronic goods and devices on other countries as well as to local manufacturing and more exports. Presently, ‘Make In India’ and ‘Digital India’ initiatives have invested millions of dollars to tackle the manufacturing and production crisis, India has planned to achieve GDP of electronics industry shares growth by 25%. Programs such as the Semiconductor India program, Production Linked Incentives for large scale industries, launching of 5G, increased use of Artificial Intelligence and IoT, and strong Research and Development schemes have added value to the harmonious growth of the electronics industry to become a powerhouse of electronic solutions.
As a result of tremendous efforts by the big industries and numerous initiatives by the Indian government, the industry has shown significant growth of 3.6% worldwide, according to the survey carried out in 2019.
Establishing an Electronic Hub
The Information Technology industry is contributing a huge part to overall GDP growth in India. Annually, it approximately accounts for 8% of India’s GDP while the electronic industry has only achieved to contribute 3.4% of India’s GDP which might be considered less significant. In order to acquire a higher position in the global hub of Electronics System Development and Maintenance (ESDM), India has to take big steps in developing its electronic sector. India must focus on comprehensive development and increase in the collaboration with other big giants in the global electronic market. Additionally, we must concentrate on global export and supply chain management as well as boost the investments in the R&D sector.
India, establishing its own electronic hub, has been a dream since the inception of the digital era and the internet. However, it is only possible if India becomes self-reliant in electronic manufacturing and exports.
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