Electronic and smartphone manufacturing alone will contribute $ 1 trillion by 2025: Union Minister Ravi Shankar Prasad

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Union Minister of Law and Justice, Electronics and Information Technology and Communications Ravi Shankar Prasad stated that there is a robust future for the manufacturing of electronics and smartphone sector in India during the ASSOCHAM (The Associated Chambers of Commerce and Industry of India) Foundation Week.

Speaking at the event, he said: “We have come a long way from the just two factories in 2014 to 250 manufacturing factories today. By proper scaling of the manufacturing, the sector alone can contribute $1 trillion towards fulfilling the dream of achieving the $5 trillion economy.”

Speaking about policies, he said that the right policies make adifference in the output and growth of the sector.

“The production Linked Incentive Scheme (PLI) that we introduced to the sector during the Covid pandemic, attracted top 5 global players to India as expected by us. And also, the top 5 companies in India will be able to perform better. I am confident that these companies together will be managed to produce mobile phones and accessories worth Rs.10 lakh crore in the next five years,” said Mr. Prasad.

He informed that out of that the exports figure would be Rs 7 lakh crore and the sector will generate employment of 9 lakhs jobs directly or indirectly.

Talking further, about the future of electronics manufacturing in India, he said that by 2025 the country would be able to manufacture 1 billion phones, 50 million televisions, 50 million hardware including Laptops and tablets and other accessories.

“The idea is to make India a global hub of mobile manufacturing as India has talent, innovation, and potential to be so,” he added.

About data security, he said that India stands firm on the decision that data from the citizens should be used with the consent of the person.

He further added that the digital ecosystem in India will only work if there the common people of the country are made stakeholders.

“The technology like artificial intelligence (AI) should be used in areas like farming and healthcare, to benefit the people at large, and then only the ecosystem will survive,” he cautioned.

“The areas of emerging technologies offer a dual opportunity for us in India. On the one hand, there is an opportunity for India to emerge as a leader in the design and development of products and services in new and emerging technologies. On the other hand, the application of advanced technologies has the potential to create improved access for Indian companies to global markets, new employment opportunities, and efficiency improvement” Niranjan Hiranandani, President, ASSOCHAM said in an official statement.

P Balaji, Chairman – ASSOCHAM National Council on Digital Communications, and Chief Regulatory and Corporate Affairs Officer at Vodafone Idea Limited believes that telecom connectivity will be the platform for the digital society of New India.

“Operators such as Vi are focused on building digital networks to keep people, enterprises, and the economy running. We are increasing network bandwidth, leveraging digital technologies, to support customers and help India achieve the government target of a $1 trillion digital economy,” he added.

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