Bengaluru, Karnataka: President of India Electronics and Semiconductor Association (IESA) Ashok Chandak speaks on the government’s Electronics Component Manufacturing Scheme. He said that IESA welcomes the government’s approval of 22,900 crore production linked incentive scheme for the electronic components and manufacture. A long standing demand of industry is a game changer.
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#IESA #ElectronicsManufacturing #Semiconductors #PLI #MakeInIndia #AshokChandak #TechIndustry #GovernmentIncentives #ManufacturingBoost #ElectronicsGrowth
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00:00ISA welcomes the government's approval of 22,900 production link incentive scheme
00:06for the electronic components and subassemblies manufacture.
00:09A longstanding demand from the industry and clearly a game changer.
00:15PLI, Semicon India and a components manufacture. This is the power trio going to drive India's
00:21electronics vision which is expected to be 500 billion dollar market size by 2030.
00:28As per the estimates of ISA and also a target set by Honorable Prime Minister of the country.
00:35So now we are looking at a scenario which is from components to the chips to the electronics
00:39manufacturing. The PLI and Semicon India program are really reshaping the future of the electronics
00:46in the country and going to shape the worldwide activity. One of the key challenge in this growth
00:53has been low value addition. Though India become a highly growing and robust electronics
00:59manufacturing country, our value addition has been very low at 18 percent or below.
01:04And with this focus now on the electronic components, the Semicon India program,
01:08the electronics manufacturing which takes care of variety of electronic components, displays,
01:14PCBs, etc. that constitutes almost 15 to 20 percent of the bill of material. And together
01:20this can increase India's value addition to more than 40 percent. This way we will strengthen
01:25our domestic supply chain and reduce the import and that dependency. Overall with these three
01:32schemes and the previous schemes of electronic manufacturing clusters, specs 2.0, these are all
01:38strategic efforts which are wise to meet the domestic demand and expand the exports. Cementing
01:46India's position as a global powerhouse and electronics and semiconductor. We congratulate
01:51and really thank Ministry of Electronics and IT officials including the Honorable Minister
01:57and also the cabinet along with the various member companies of ISA and other industry bodies.
02:04Those have worked relentlessly towards this ambition of making India a global powerhouse
02:09and electronics semiconductor and we are today cementing this as well as strengthening our
02:14journey.