The country's electronics industry registered record exports in FY23 but long-term challenges still persist. Read more at straitstimes.com.
– his first in seven years – has accentuated the country’s growing importance as a manufacturing base for the American tech firm.
While the China Plus One strategy, whereby companies seek to reduce their manufacturing reliance on Asia’s largest economy, has led foreign firms to invest in India, this recent spurt has also been encouraged by government aid through a performance-linked incentive to boost large-scale electronics manufacturing.
Experts, however, say the country must focus on deepening its gains achieved in removing bottlenecks and improving the competitiveness of its business environment to ensure the momentum is sustained once government financial incentives run dry. India has a target of achieving US$300 billion worth of electronics manufacturing by 2025-26, with US$120 billion of this aimed at exports. Mobile phones alone are anticipated to contribute more than US$50 billion worth of exports by 2025-26.
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