Even as the government has introduced various production linked incentive (PLI) schemes for promoting and incentivising local manufacturing of electronic goods and IT hardware since April 2020, there has been robust growth in production as well as exports of these products in the past five years.
According to official figures of the Ministry of Electronics and IT, between 2016-17 and 2020-21 there has been an astounding 104 per cent growth in export of electronic goods. Also manufacturing of these goods during the same period, has witnessed a growth of 74.7 per cent.
In 2016-17, India exported electronic goods worth ₹ 39,980 crore, which rose by 104 per cent to ₹ 81,948 crore in 2020-21.
Similarly, in 2016-17, India produced electronic products worth ₹ 3,17,331 crore, which in 2020-21 rose to ₹ 5,54,461 crore, a jump of 74.4 per cent.
Government on April 1, 2020, just days after the nation-wide lockdown was imposed to curb Coronavirus related infections, had introduced a PLI scheme for large scale electronics manufacturing.
Under this scheme, an incentive of 6 per cent to 4 per cent is given to eligible companies on incremental sales (over base year) of goods under targeted segments like mobile phones and specified electronic components that are manufactured in India, for a period of five years subsequent to the base year which is 2019-20.
Till date, 32 companies have been approved under this scheme, official sources said.
Till date, 14 companies have been approved under this scheme.
These schemes were launched under government’s Atma Nirbhar Bharat policy, aiming to make India a significant design and manufacturing hub for electronic goods.
