“The export of electronic goods has substantially increased in the period 2017-18 to 2021-22 with a compound annual growth rate of 29 per cent whereas the production has grown with a compound annual growth rate of 17.9 per cent,” he said.
As per the data shared by the government in Lok Sabha, India’s electronics export was Rs 81,822 crore in 2020-21, which surged to Rs 1,16,894 crore in 2021-22. Similarly the electronics production in the country also grew from Rs 5,33,550 crore in 2019-20 to Rs 5,54,461 crore in 2020-21 .
The minister also shared details of various schemes, including a production-link incentive scheme for large-scale electronics manufacturing, a phase manufacturing programme, an electronic development fund etc.
He said that 314 applicants worth Rs 86,912 crore of investments and committed incentives of Rs 9,544 crore have been approved till now. Incentives amounting to Rs 1,781.02 crore have been disbursed. Out of 314 units approved, 271 units have invested Rs 31,416 crore and 233 units have started production, he added.
The minister said that the government has committed Rs 409 crore funds through electronics development, which aims to foster research and development and innovation in technology sectors.
“Rs 409 crore has been committed through EDF (Electronics Development Fund) to 9 Daughter Funds with a targeted corpus of Rs 2,626 crore. Till date, EDF has invested Rs 236.48 crore in 8 Daughter funds with direct employment generation of 18,500,” Chandrasekhar said.
(Inputs from PTI)