According to Ashwini Vaishnaw, India's minister of electronics and information technology, the government wants India to become a $ 250 billion electronic manufacturing center in the next five years.

The minister, speaking at an event held by the Ministry of Electronics and Information Technology, expressed delight at the success of the electronics manufacturing industry, noting that even 25 percent seemed improbable at the time.

“Even 25 percent looked unrealistic when we were discussing what our aim should be, but I now believe that even 30 percent is achievable. In the field of telecommunications, we are at the forefront. Our 5G stack will be the world's first virtualized 5G stack. We may now consider manufacturing on a larger scale since the world is moving toward ecosystems in which our companies will manage global telecom networks”, expresses the minister.

He believes that the country is at the forefront when it comes to the field of telecommunications and its 5G stack would be the world's first virtualized 5G stack. The nation’s Prime Minister, Narendra Modi, affirmed the same by pointing out that the world will transition toward ecosystems in which our companies will be able to manage the global telecom network.

Rajeev Chandrasekhar, the minister of electronics and IT, during his paper presentation on ‘Increasing India's Electronic Exports and Market Share in Global Value Chains’, believes that, post COVID-19, India has a unique opportunity to gain market share from other geographies, further cementing its position as an electronics manufacturing hub. In hopes that the government will do ‘whatever it takes’ to help attract global value chains (GVC) and manufacturing behemoths to the country. He also stated that India's strategy should not be solely based on price.

Despite the severity of the pandemic and its impact across all industries, MEITY Secretary Ajay Sawhney stated that India was able to sustain overall production at $75 billion in 2021 and wants to reach $250 billion in five years, with a CAGR of 27 percent. "It is at this point that we must rethink and reassess what we are seeking to accomplish; how can we alter our course? What are the things that we do differently? To be able to maintain this rate of expansion”, states Sawhney.

The government, according to Chandrasekhar, is dedicated to assisting the industry and will ‘respond very fast’ to industry recommendations. "We'll take this very seriously and (do) what we think is vital and necessary to accelerate the growth of electronics. Our ambition to become a major player in the electronics industry is sincere and genuine. The opportunity is serious and genuine, and the deadlines are well-defined. Therefore, we'll do everything it takes to attract those investments, create those jobs, and stimulate economic activity”.

He also stated that based on preliminary estimations, only four businesses, Dell, Samsung, Apple, and HP, account for $650 billion in total electronics revenues, with no reason why at least 10 percent or 20 percent of that should not come from items made in India. It will assist in increasing the contribution of electronics to India's GDP from the existing three percent.

The ICEA research suggests a number of initiatives, including boosting production scale and adopting an export-oriented approach, as well as lowering input tariffs and minimizing policy-related operational burdens and delays.

“In terms of extending a product category, new markets, new types of clients, and consumers of our products, I believe we will be entering a very different competitive regime.
Also, (we have tremendous opportunity) to capture market share from other locations and countries that produce those items”, says Chandrasekhar.