National electronics policy almost finalised, Modi government pushing India towards $1 trillion digital economy, says Ravi Shankar Prasad

By: |
New Delhi | December 14, 2018 2:56 PM

The government has almost finalised the National Policy on Electronics to boost electronics manufacturing in India on a big scale, Electronics and IT Minister Ravi Shankar Prasad said.

The Modi government is pushing India’s case for USD 1 trillion digital economy.

The government has almost finalised the National Policy on Electronics to boost electronics manufacturing in India on a big scale, Electronics and IT Minister Ravi Shankar Prasad said Friday. Prasad further said that the Modi government is pushing India’s case for USD 1 trillion digital economy.

“We are working on electronics policy, we have almost finalised that. We had widest consultation possible,” he said at an event organised by industry body CII. The minister also asked the electronics industry to focus on producing medical devices, defence and automobile items. “We are pushing India’s case for USD 1 trillion digital economy and that report is almost finalised and the prime minister soon going to launch it,” Prasad announced.

Read | Airbus names Philippe Mhun as next programmes chief

He pointed out that today 240 companies in India are making mobile phones and its components. Noida and Greater Noida are emerging as mobile phone manufacturing hub, Prasad said, adding that this will employ 5 lakhs people.

Speaking at the same event, Niti Aayog Vice Chairman Rajiv Kumar said that he sees electronics industry as sunrise industry. Kumar also said India’s electronics industry should scale up and aspire to become USD 150 billion industry in the next five years.

The first National Policy on Electronics was rolled out in 2012, which offered incentives to companies setting up manufacturing units in the country.

Do you know What is Positive GDP growth seen in Q3, need to fight inflation: RB, Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1How much Ambani, Adani earned amid Covid: 100 billionaires income equals about Rs 1 lakh each for 14 cr people
2India Inc brings home good Q3FY21 report card, most companies beat Street estimates
3Govt mulls overhaul of FCI’s purchase drive