Union Minister of Electronics and Information Technology Ashwini Vaishnav said that India’s electronics manufacturing sector would double in the next three to four years to over $ 200 billion. He said that it will be strengthened by the reforms declared in it.
In a conversation with the media after the budget, Vaishnav said that the budget for raw materials will rationalize the framework and remove the concerns of the storage of goods prepared in the electronics sector. The Union Minister said, ‘Currently, there are 25 lakh jobs in the electronics sector and in the next 4 years it will be easily four times. Now a large number of electronics manufacturing will come in our country. The success of electronic manufacturing can also be shaped in another field. ‘
Vaishnav said that the Union Budget 2025-26 lithium battery junk, cobalt products, zinc, some raw materials and mobile phone batteries used in the battery and the basic customs (BCD) on zinc have been removed. This was the current time to promote battery production in the country. Apart from changes in BCD, an allocation of Rs 2,000 crore has also been made for India AI Mission in the next financial year budget. Under the mission, the government aims to set up 20 AI data curse units at the center level during the next financial year, while 80 AI labs will also be set up in various higher educational institutions across the country.
In the budget, an allocation of Rs 3,900 crore has been made for the establishment of outsourced assembly and testing units. 2,500 crore rupees were given for this in last year’s budget. Similarly, an allocation of about Rs 2,500 crore has also been made for the establishment of semiconductor fabrication units in India, which is more than Rs 1,200 crore for the revised estimate of 2024-25.
Vaishnav said that manufacturing and increase in new investment will have manufacturing service sector manifold. He also mentioned the global capacity centers (GCC) structure in the budget speech of Finance Minister Nirmala Sitharaman on Saturday. He said that the IT Ministry will work with the state governments to encourage the establishment of high -value GCC.