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Searched Tag: electronics sector

Electronics becomes India’s 5th largest export, official says

Electronics becomes India’s 5th largest export

August 31, 2024, 03:11 PM - 2 min read

Electronics have become India’s fifth-largest export, growing 23% annually, with manufacturing exceeding USD 100 billion and expected to see further growth with local semiconductor production and a new version of the SPECS scheme.

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India must significantly revamp its import tariffs, provide fiscal incentives, and develop targeted schemes to emerge as a significant player in the global electronics value chain, according to a recent report by the government think tank Niti Aayog.

Niti Aayog: India must overhaul electronics sector by 2030

July 19, 2024, 01:14 PM - 2 min read

The report emphasizes that alongside fiscal support, skilling in the sector and easier visa processes for overseas workers are crucial. It also calls for expediting foreign direct investment (FDI) proposals, particularly those from countries sharing a land border with India. Press Note 3, which governs investments from neighboring countries, mandates additional scrutiny for such FDI proposals.

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