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India's electronics exports hit $40 bn, grow 8 times in 11 yrs: Vaishnaw
Press Trust of India Hyderabad
India's electronics exports have soared past $40 billion, marking an eight-fold growth over the last 11 years, Union Minister Ashwini Vaishnaw said on Saturday.
He also highlighted that the domestic electronics production has gone up by six times.
Addressing the 14th Convocation of IIT Hyderabad, near here, Vaishnaw also emphasised the rapid progress of India's first bullet train project, which is expected to become operational by August or September 2027.
Looking ahead, he said the first Made in India chip, on a commercial scale, will be manufactured this year. He expressed confidence that India is on track to becoming one of the top five semiconductor nations in the world in the coming years, citing its increasing focus on capital equipment and the materials required for semiconductors.
In just 11 years, we have increased our electronics production six times. That's a CAGR double digit which any corporate would be envious of. We have increased our exports eight times, crossed $40 billion exports in electronics manufacturing, which is a phenomenal pace of growth, something which very few countries of our size have ever seen, the Union Minister for Railways, Information & Broadcasting, Electronics & Information Technology said.
He attributed this growth to the vision of Prime Minister Narendra Modi and noted that in just about three and a half years, India could design a complete 4G telecom stack. Today, it is installed on almost 90,000 telecom towers, which is more than the network of many countries in the world.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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