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India electronics component manufacturing to creates 2.8 lakh jobs by 2026, set to hit USD 240 bn by 2030

India electronics component manufacturing to creates 2.8 lakh jobs by 2026, set to hit USD 240 bn by 2030
A report by the Confederation of Indian Industry (CII) says that a part used to make electronics (PCBA) is expected to grow by 30 per cent by 2030. The report also suggested several ways to help the Indian electronic industry grow even further.

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The Indian government's push to establish the country as a global manufacturing hub is expected to lead to the creation of 2.8 lakh new jobs by 2026. A report by the Confederation of Indian Industry (CII) projects a significant increase in demand for electronics components and sub-assemblies, with the priority components and sub-assemblies projected to reach USD 139 billion by 2030. The report recommends the implementation of a scheme to provide fiscal support for select components and sub-assemblies, as well as the introduction of the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) 2.0. The report also emphasizes the need to rationalize import tariffs on priority sub-assemblies and components to align with competing economies. The CII believes that the policy support will lead to economic benefits and the creation of export demand for India-made products.

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