New Delhi: The Government’s vision of reducing our import burden by taking forward our Prime Narendra Modi’s vision would be key in reducing the fiscal burden, says former Ajay Shankar, Member Secretary, NMCC.
Addressing a Seminar on “Make in India: Electronics – Substituting Surmounting Imports” under aegis of PHD Chamber of Commerce and Industry here Ajay Shankar said that the Indian Electronic Industry is still at an infant stage and India needs to create an Investment case for itself.
Elaborating on the current framework, Shankar said that Electronic Fund can be a game changer however the entire ecosystem needs to gear up and be conducive for the benefit of the industry. According to him, manufacturing as a sector itself is undergoing a transformation.
Focus now needs to be on adding value to our products so as to attract investors and availability to critical information that can be used for making an informed decision. Recently Gujarat government announced its maiden electronics industry policy for 2014-19.
This is the first in a series of business policy announcements lined up by the state government in the run-up to the 7th Vibrant Gujarat Global Investor Summit scheduled for January 2015. The new policy aims to achieve $6 billion investment and boost the turnover of this sector to $16 billion by 2020.
The government hopes to generate at least 5 lakh new jobs in the next six years. To help achieve this target, the government has set up a Gujarat Electronics Mission.