NEW DELHI: The Union Cabinet has given green signal to the National Policy on Electronics
2012. This nod would make the local electronic hardware producing sector into a $400-billion industry by the year 2020.
According to an official statement, “The Union Cabinet today approved the National Policy on Electronics 2012. The draft National Policy on Electronics was released for public consultation and it has now been finalised based on comments from various stakeholders.”
The policy states that Centre has fixed an aim to develop an eco-system for creating internationally robust ESDM (Electronic System and Design and Manufacturing) sector in India with the aim to attain $400-billion turnover by 2020 by getting nearly $100-billion investment and employment to about 28-million people.
Moreover, the demand for electronics product has witnessed quick growth in India.
The local output during 2008-09 has been close to nearly $20 billion.
According to the Free Trade Agreements (FTAs) and Preferential Trade Agreements (PTAs) with different nations, the import of electronics hardware from these nations is permitted either at zero duty or at a duty which is lower than the normal duty rate.