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Government mulls 5% cut in electronics imports to boost domestic production from FY25: sources
Economic Times
·
8m ago
Medial
The Indian government is considering asking electronics companies to reduce the import of laptops, tablets, computers, and servers by 5% of their total import bill. This reduction is aimed at decreasing the country's import dependence and promoting domestic value addition. Stakeholder discussions are ongoing, and periodic reviews and audits of domestic production numbers are likely to be conducted. The government is expected to offer concessions in import quotas to companies that increase domestic production under the production-linked incentive scheme. The import management system for certain IT hardware products may be extended until December 31.
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Former HCL Chief Ajai Chowdhry Calls for Rs 44,000 Crore Allocation to Support Product Nation Initiative
OutlookIndia
·
6m ago
Medial
Former HCL chief, Ajai Chowdhry, has proposed a ₹44,000 crore allocation to boost India's semiconductor production, aiming for self-reliance under the Product Nation Initiative. As part of the EPIC Foundation, Chowdhry emphasizes transitioning India into an "Electronic Product Nation" through domestic manufacturing of chips and systems. This includes prioritizing local products in government procurement. The proposal seeks to transform India into a global electronics hub and diminish dependence on imports.
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India's electronics components demand projected to reach $240 billion by 2030
Economic Times
·
1y ago
Medial
According to a report by the Confederation of Indian Industry, the demand for electronics components and sub-assemblies in India is projected to reach $240 billion by 2030. The report highlights the need for India to reduce its dependence on imports for critical components and sub-assemblies, such as PCBAs (printed circuit board assembly). The report also suggests implementing fiscal support, bringing import tariffs to under 5%, and pursuing free trade agreements to boost domestic manufacturing and make India a global hub for electronics production. Such actions could result in job creation and increased GDP.
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Amid China's export curbs, India plans Rs 1,345 crore rare earth magnet incentive scheme
Economic Times
·
28d ago
Medial
India plans a ₹1,345-crore incentive scheme to boost domestic production of rare earth magnets, vital for electric vehicles and electronics, to lessen dependence on Chinese imports amidst China's export restrictions. The government has allocated funds and initiated interministerial consultations, according to Union Heavy Industries Minister H D Kumaraswamy. Additionally, the government is promoting an electric trucks subsidy scheme under PM E-Drive, offering up to ₹9.6 lakh per truck to curb diesel vehicle emissions, supporting around 5,600 e-trucks nationwide.
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PLI schemes attract Rs 1.76 lakh cr investment, create 12 lakh jobs: Govt
Economic Times
·
1m ago
Medial
India's production-linked incentive (PLI) schemes have attracted Rs 1.76 lakh crore in investments and generated over Rs 16.5 lakh crore in output, creating 12 lakh jobs by March 2025. The government has disbursed Rs 21,534 crore across 14 sectors, including electronics, pharma, and textiles. The PLI program aims to boost domestic manufacturing, reduce imports, and enhance exports. Significant growth has been seen in sectors like pharmaceuticals, food processing, and textiles, benefiting MSMEs and rural areas.
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Govt disburses Rs 14,020 crore in ten PLI schemes so far
Economic Times
·
4m ago
Medial
The Indian government has disbursed Rs 14,020 crore under Production-Linked Incentive (PLI) schemes for ten sectors, including electronics and pharma, to promote domestic manufacturing. Launched for 14 sectors, the schemes aim to boost production and exports. So far, 764 applications have been approved across various sectors, resulting in significant investments, production value, and job creation. The schemes also encourage exports, with electronics and pharmaceuticals making notable contributions.
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India announces $5 billion incentive to boost electronics manufacturing
Livemint
·
8m ago
Medial
India plans to introduce incentives worth up to $5 billion to encourage local electronics manufacturers to produce components for devices like smartphones and laptops. This move aims to reduce dependence on Chinese imports and strengthen domestic supply chains. Despite being the fourth-largest smartphone supplier globally, India relies heavily on imported components, particularly from China and Hong Kong. The new scheme, led by the Ministry of Electronics, will focus on manufacturing critical components and is part of India's larger ambition to scale up electronics production to $500 billion by 2030.
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India’s Semiconductor Revolution: Seizing A Trillion-Dollar Opportunity By 2030
Inc42
·
9m ago
Medial
The semiconductor market in India is projected to grow from its current value of $23.2 billion to $80.3 billion by 2028. The government has introduced the 2020 Semiconductor Policy to reduce dependency on imports and boost domestic semiconductor design and manufacturing. The cost of establishing a chip fabrication plant in India is estimated to range from $5 to $7 billion.
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Make in India: The 99% phone assembly masks a bigger gap
Livemint
·
1m ago
Medial
India has significantly increased its mobile phone assembly capability, now producing 99% of the phones it consumes, aided by a ₹1.9 trillion Production Linked Incentive (PLI) scheme. Despite this success, a major challenge remains: about 90% of the components in these electronics are still imported from China, Korea, and Taiwan. To address this, the Indian government has launched the ECM scheme to boost domestic electronics component manufacturing.
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Magnet crunch: Indian firms pitch supply chain plans to curb China’s rare earth dominance
Economic Times
·
1m ago
Medial
Facing a rare earth magnet supply crunch due to China's export restrictions, Indian companies are proposing in-house magnet supply chains to the government. Midwest Advanced Materials and Entellus plan to produce locally, while Indian Rare Earths aims to match China's pricing. Dependence on Chinese imports has hindered past domestic magnet production. The government is considering a ₹3,500–5,000 crore incentive scheme to boost local production and reduce reliance on China for critical components.
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India’s PLI schemes to boost revenue of 720 companies by USD 459 billion over next 5 years: Goldman Sachs
Livemint
·
7m ago
Medial
India's Production-Linked Incentive (PLI) schemes are projected to generate $459 billion in incremental revenue over the next 5-6 years across 720 companies, according to Goldman Sachs. These schemes aim to boost manufacturing, reduce imports, and drive exports across sectors like energy, electronics, pharmaceuticals, and textiles, while also addressing uneven growth by refining allocation and enhancing local value addition. Notable sectors include electronics, automotive, and green energy, each contributing significantly to revenue targets.
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