Ministry of Electronics and Information Technology is planning to come out with PLI 2.0, specially focused on electronic components, with a budget of Rs 40,000 crore, Dixon Technologies Chairman, Sunil Vachani, told NDTV Profit in an exclusive conversation.
Ministry of Electronics and Information Technology is planning to come out with PLI 2.0, specially focused on electronic components, with a budget of Rs 40,000 crore, Dixon Technologies Chairman, Sunil Vachani, told NDTV Profit in an exclusive conversation.
After seeing the success of PLI introduction for various mobile phones and various sectors, in the last few years, "we need to ensure that success we achieved in the last few years is sustainable," said Vachani. This can happen by investing in design, backward integration, and creating a very strong and vibrant component ecosystem in this direction, he added.
"We are very happy to see that it has very large budget of Rs 40,000 crore," he said.
People in the industry are looking forward to this rollout and they are excited, having made their plans to invest. "We are looking forward to MSMEs coming in and investing, which did not happen in PLI 1.0," he said. Vachani is confident that once India has a design and component ecosystem, along with large scale and global companies coming in, it will soon become the next manufacturing hub.
He also noted that 'Make in India' has been a huge success. "Almost 15 years back, PM gave a call that we need to make India next hub," he said.
There has been tremendous growth in the manufacturing of information and communications technology products, as there was a time when we were importing almost 90% of mobile phones sold in India. But today, we are not only producing for domestic market, but for the world, he said.
"We are also looking at a very ambitious target for exports of electronic products of almost $100 billion (or Rs 8.58 lakh crore) also fulfilling PM's vision of a production of almost $500 billion (or Rs 42.94 lakh crore) in the country, including exports," he said.
There is no doubt that we are sitting on a very large opportunity, Vachani said. "The opportunity now is to make India the next hub for manufacturing electronic appliances and mobile phones, not only for domestic market but for the world."
This is also a time when lot of buyer countries are looking for an alternative to our neighbour. "The next 25 years belong to India, this is our time," he said.
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