New Delhi: The Union Ministry of Electronics and IT revealed that the exports of electronics goods from the country has surged by 104% between 2016-17 and 2020-21. The overall manufacturing of these goods during the same period, has witnessed a growth of 74.7%. In 2016-17, India exported electronic goods worth Rs 39,980 crore, which rose by 104% to Rs 81,948 crore in 2020-21. In 2016-17, India produced electronic products worth Rs 3,17,331 crore, which in 2020-21 rose to Rs 5,54,461 crore, a jump of 74.4%.
The ministry said that the surge in the export and production was mainly due to the new polices launched by the government. Union government in April 2020 launched production linked incentive (PLI) schemes for promoting and incentivizing local manufacturing of electronic goods and IT hardware. Around 32 companies have been approved under this scheme. They will get 4% to 6% incentive. The government also launched Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) and Modified Special Incentive Package Scheme (MSIPS).
The schemes were launched under Atma Nirbhar Bharat policy. The policy aims to make India a significant design and manufacturing hub for electronic goods