India expects $56-bn funding in electronics sector

The Dollar Business Bureau

S K Marwaha, Director, Department of Electronics and Information Technology, said India is expecting $56 billion worth of investments in the electronics sector by 2020, to meet its rising demand.
The government has permitted 100 percent FDI (Foreign Direct Investment) in the electronics sector with a subsidy of 25 percent, Marwaha said on Wednesday, while speaking at 'India Connect' business forum held at CommunicAsia2016 Exhibition in Singapore.
He pointed out that there is a need to enhance the electronics sector production by around $300 billion in the next four years, given the high demand for hi-tech products, which will also come from the development and restructuring of 98 Smart Cities (under India’s Smart Cities Mission) across India. At present, the demand for electronics in India is $100 billion.
According to Marwaha, India got new investments worth $16 billion for the electronics sector, till date. He expects the electronics industry to be $100 billion, with $28 billion of current investments and the requirement of an additional $52 billion. He further said that marketing drives are being organised all over the world to attract more investments in the electronics sector, which has $80 billion potential worth of exports.
The aim is to match exports and imports and make the country a net exporter of electronics products to the world markets, he added.
India has a representation of 54 companies at the mega CommunicAsia2016 Exhibition, covering broadcast, communications and allied companies, organised by the Singapore Exhibition Services.