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October 3rd, 2011
Communications and IT Minister Kapil Sibal on Monday unveiled the draft National Policy on Electronics, 2011, aimed at achieving a turnover of $400 billion for the sector by 2020, which involved investment of about $100 billion, besides creating employment for 2.8 crore people. The final policy is likely to come by December this year.
"At the current rate of growth, the domestic production can cater to a demand of only $100 billion in 2020 as against demand of $400 billion and the rest would have to be met by imports…a demand-supply gap of nearly $300 billion. Unless the situation is corrected, it is likely that by 2020 the electronics import may far exceed oil imports," Mr. Sibal said after unveiling the draft.
"The National Policy of Electronics-2011 envisions creating a globally competitive electronics systems design and manufacturing (ESDM) industry, including nano-electronics, to meet the country's needs and serve the international market. This is a quantum jump from production level of about $20 billion in 2009. This inter alia, includes achieving a turnover of $55 billion of chip design and embedded software industry, and $80 billion of exports," he pointed out.
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