ELCINA has also advocated for enhanced incentives for the semiconductor industry, asserting that the current $10 billion allocation is insufficient. (Getty Images)
ELCINA Calls for $10 Billion Package to Boost Manufacturing in Electronics Sector
The Electronic Industries Association of India (ELCINA) aims to enhance India’s integration into the global electronics value chain by advocating for key initiatives in the manufacturing sector.
With a vision to reach $500 billion in electronics production by 2030, ELCINA has submitted a strategic wish-list to the government, emphasizing the need for a $10 billion package to drive investments in non-semiconductor components.
ELCINA’s focus is on developing a robust ecosystem and establishing Electronics Manufacturing Clusters (EMCs) to support advanced manufacturing. The association also highlights the importance of boosting exports and enhancing incentives for the semiconductor industry.
Additionally, ELCINA proposes the creation of industry-oriented Centres of Excellence for Skill Development and Training, extended tax incentives, and technology acquisition funds to propel India’s position as a leading player in the global market.
To support SMEs in the sector, ELCINA suggests the formation of an investment fund, while also stressing the importance of ease of doing business and regulatory simplification.
By recommending viability gap funding and swift implementation of key legislative amendments, ELCINA envisions a thriving electronics manufacturing landscape in India, poised for significant growth and innovation.
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