NITI Aayog to release Report on ‘Electronics: Powering India’s Participation in Global Value Chains’ tomorrow

0
757
NITI-AAYOG
NITI-AAYOG
0 0
Azadi Ka Amrit Mahoutsav

InterServer Web Hosting and VPS
Read Time:1 Minute, 48 Second

NITI Aayog to release Report on ‘Electronics: Powering India’s Participation in Global Value Chains’ tomorrow

Aims to accelerate Make-in-India by engaging in Global Value Chains

Manufacturing sector to play a crucial role in journey towards Viksit Bharat

By PIB Delhi

NITI Aayog will unveil its report titled “Electronics: Powering India’s Participation in Global Value Chains” tomorrow on 18 July, 2024. This report is the outcome of extensive analysis of India’s electronics sector including its scopes and challenges. The report lays down the roadmap for the country to become a global manufacturing hub in electronics manufacturing.

In the current scenario, 70% of international trade comprises Global Value Chain (GVC) items emphasizing the critical need for India to enhance its GVC participation. This can be achieved by prioritizing sectors such as electronics, semiconductors, automobiles, chemicals, and pharmaceuticals, which play a significant role in the GVC landscape. Within GVCs, the electronics sector holds a significant position as nearly 80% of electronics exports come from GVCs.

In the financial year 2023, India’s electronics sector recorded a significant value of exports, contributing a considerable share of 5.32% to India’s total merchandise exports. The sector’s export performance highlights its competitiveness in the global market and its ability to capitalize on international demand. It has also enhanced India’s position in the global electronics landscape. The electronics sector is very high in terms of GVC participation. It is not confined to a particular country or economy and is spread across several geographies and firms.

Presently, India’s electronics manufacturing primarily involves the final assembly of electronic goods. While brands and design firms have started increasingly outsourcing assembly, testing, and packaging tasks to Electronic Manufacturing Services (EMS) companies in India, the ecosystem for design and component manufacturing is at a nascent stage.

The manufacturing sector will play a crucial role in India’s journey towards becoming Viksit Bharat. It can be achieved by accelerating Make-in-India by engaging in Global Value Chains. With this perspective, NITI Aayog will release a comprehensive report on the subject suggesting a roadmap for country for becoming manufacturing powerhouse in the electronics sector.

About Post Author

Editor Desk

Antara Tripathy M.Sc., B.Ed. by qualification and bring 15 years of media reporting experience.. Coverred many illustarted events like, G20, ICC,MCCI,British High Commission, Bangladesh etc. She took over from the founder Editor of IBG NEWS Suman Munshi (15/Mar/2012- 09/Aug/2018 and October 2020 to 13 June 2023).
Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %
Advertisements

USD





LEAVE A REPLY

Please enter your comment!
Please enter your name here