New Delhi, June 5: Electronics industry experts said on Wednesday that the next government should continue to prioritise innovation, youth empowerment and entrepreneurship, along with an overall focus on governance, development and performance.
According to Varun Gupta, co-founder of Bolt, as the electronics sector continues its upward trend, government support continues to play a key role in strengthening its global competitiveness.
“The tailored production linked incentive (PLI) regime for hearables and wearables is expected to play a pivotal role in realising the government’s ambitious export targets, significantly enhancing the sector’s competitiveness and contribution to the global market,” Gupta told IANS.
A PLI scheme worth Rs 12,195 crore has been launched for manufacturing of communication and networking products. Further, incentives of over Rs 4,000 crore have been allocated for the design-led manufacturing scheme of the existing PLI scheme.
Further, HTech CEO Madhav Sheth said the next five years sees further growth and development especially in the areas of artificial intelligence (A)I, local manufacturing and semiconductors.
“We expect local manufacturing to get a further boost due to changes in global supply chains and growing interest from global companies to set up manufacturing facilities in India,” he added.
Avneet Singh Marwa, CEO, Super Plastronics Private Limited (SPPL), said the PLI scheme and strengthened infrastructure have significantly strengthened India’s competitiveness in the global semiconductor market.
