Prime Minister Modi’s vision for 2023: Mobile phone exports of Rs 1 lakh crore – Times of India
Mobile phones to make their place in the top 10 export category from India. This is the vision of the Prime Minister Narendra Modi, according to the Minister of State for Electronics and IT Rajeev Chandrasekhar. “PM Narendramodi Ji’s vision for 2023 is mobile phone exports worth Rs 1 lakh crore, with mobile phones featuring in the Top 10 exported category,” Chandrasekhar said.
The minister, told news agency PTI, that the government will take all the measures that are required for boosting the electronics manufacturing ecosystem in the country and in 2023 will look at widening the manufacturing base beyond mobile phone manufacturing. He further added that the government is working to broaden the electronic manufacturing ecosystem beyond mobile phones to increase global share in hearables and wearables segment, IT hardware, electronic components etc.
“We are going to complement our mobile phone successes by broadening and deepening the ecosystem. The deepening strategy has been there in semiconductor space. It is very clear we want to do more in our component industry. In the broadening, while we are growing in mobile phone space, we want to do well in IT server and hardware space, wearable and hearable space. These are all areas that are fast growing globally,” the minister said.
“We want to increase our market share in IT hardware and servers. We are today a very small player in that space. We want to increase our market share for components and global market share in wearables and hearables. It is the Prime Minister’s goal and objective that in all of these areas, we want to be a significant trusted partner to the global enterprises and consumers. If that requires any additional PLI or policy we will do it,” Chandrasekhar said.
PLI status check
India plans to fast-track permissions and handhold investors putting up capacities under the various production-linked incentive (PLI) schemes as it seeks to reinvigorate manufacturing in the country. Top officials of the Department for Promotion of Industry and Internal Trade, Niti Aayog and the finance ministry among others met recently for a status check with PLI investments having crossed the Rs 25,000 crore March target. The holistic review of the scheme that neared two years showed while some sectors had over-performed, others were lagging.
“Some sectors are progressing, but some are slow. We discussed how to handhold them in case any permissions are stuck and also ways to streamline the processes so that there is no misuse of funds,” an official told Economic Times.
The minister, told news agency PTI, that the government will take all the measures that are required for boosting the electronics manufacturing ecosystem in the country and in 2023 will look at widening the manufacturing base beyond mobile phone manufacturing. He further added that the government is working to broaden the electronic manufacturing ecosystem beyond mobile phones to increase global share in hearables and wearables segment, IT hardware, electronic components etc.
“We are going to complement our mobile phone successes by broadening and deepening the ecosystem. The deepening strategy has been there in semiconductor space. It is very clear we want to do more in our component industry. In the broadening, while we are growing in mobile phone space, we want to do well in IT server and hardware space, wearable and hearable space. These are all areas that are fast growing globally,” the minister said.
“We want to increase our market share in IT hardware and servers. We are today a very small player in that space. We want to increase our market share for components and global market share in wearables and hearables. It is the Prime Minister’s goal and objective that in all of these areas, we want to be a significant trusted partner to the global enterprises and consumers. If that requires any additional PLI or policy we will do it,” Chandrasekhar said.
PLI status check
India plans to fast-track permissions and handhold investors putting up capacities under the various production-linked incentive (PLI) schemes as it seeks to reinvigorate manufacturing in the country. Top officials of the Department for Promotion of Industry and Internal Trade, Niti Aayog and the finance ministry among others met recently for a status check with PLI investments having crossed the Rs 25,000 crore March target. The holistic review of the scheme that neared two years showed while some sectors had over-performed, others were lagging.
“Some sectors are progressing, but some are slow. We discussed how to handhold them in case any permissions are stuck and also ways to streamline the processes so that there is no misuse of funds,” an official told Economic Times.
For all the latest Technology News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsUpdate is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
