India needs to boost innovation and investment in the electronics sector to reach production target of $400 billion by 2020, a top official from the Department of Electronics and Information Technology (DEITY) said today.
“We need to increase innovation and investments in the electronics sector so as to achieve the production target of $400 billion by 2020,” DEITY Secretary J Satyanarayana said at an event here.
Besides, the government’s support for the development of Electronics Manufacturing Clusters (EMCs) would aid the growth of the electronics systems design and manufacturing (ESDM) sector, he added.
Satyanarayana said this step would help in development of entrepreneurial ecosystem, drive innovation and catalyse the economic growth by increasing employment opportunities and tax revenues.
About 28 million people are expected to be employed, directly or indirectly for the ESDM turnover to reach $400 billion.
The National Policy on Electronics proposes to achieve a domestic production of about $400 billion by 2020 in ESDM sector by creating a more industry-friendly policy framework and ecosystem that would a more level-playing field for the domestic industry.
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