Updated By: LatestGKGS Desk
About Government of India Draft National Policy on Electronics 2018
About Government of India Draft National Policy on Electronics 2018: Details, Aim, Highlights
Union Ministry of Electronics and Information Technology (MeitY) on 12th October 2018, has issued Draft National Policy on Electronics-2018 (NPE 2018) for Electronics System Design and Manufacturing (ESDM) Sector of India.
National Policy on Electronics 2018 has set an aspiring target of creating $400 billion electronics manufacturing industry by 2025, with mobile phone devices segment accounting for three-fourths of production.
Draft NPE 2018 aims to promote domestic manufacturing in entire value-chain of the ESDM sector for spur economic development in the country. It also aims to double the target of mobile phone production from 500 million units in 2019 to 1 billion by 2025 to meet the objective.
Draft NPE 2018 aims to encourage industry-led research and development and innovation in all sub-sectors of electronics.
Draft NPE 2018 has replaced existing incentive schemes like Modified Special Incentive Package Scheme (M-SIPS), with schemes that are easier to implement such as interest subsidy and credit default guarantee etc.
Draft NPE 2018 also takes into consideration interest subsidy and credit default guarantee in order to encourage new units and in the expansion of existing units in the electronics manufacturing sector.
The set target of $400 billion turnovers under it, includes targeted production of 1 billion mobile handsets by 2025, valued at $190 billion (approximately Rs. 13 lakh crore) and also 600 million mobile handsets valued at $110 billion (approximately Rs. 7 lakh crore) for export.
