|
As India is targeting a sharp expansion in electronics and semiconductor manufacturing, with annual production target of USD 500 billion by 2030 and USD 5.3-8 trillion by 2047, the country is expected to unlock significant manufacturing opportunities, said Amardeep Singh Bhatia, Secretary, Department for Promotion of Industry and Internal Trade (DPIIT).
Addressing the Indo-German Chamber of Commerce (IGCC) Dialogue 2026, Bhatia said the government's Viksit Bharat vision of transforming India into a developed country by 2047 has been translated into detailed sector-specific plans, covering both social and economic sectors. These plans set out the targets to be achieved by 2047, along with a roadmap for the actions required by 2030, he further noted. Highlighting India's electronics and semiconductor target, he said, "Some of the sectors which all of us are aware of, electronics and semiconductor, for example, we have a target of scaling our annual production from a baseline of USD 330 billion today to USD 500 billion by 2030, and again reach a target of around 5.3 to 8 trillion by 2047. Now, this unleashes a lot of manufacturing opportunities." Commenting on the Indo-German relationship, he noted both the countries share strong and longstanding ties, marked by more than 25 years of strategic partnership and 75 years of diplomatic relations. He noted that business ties between the two countries date back more than 100 years, with German companies having a presence in India even before Independence. Highlighting India's position as one of the world's fastest-growing major economies, he said the government's focus on reforms and implementation over the past decade has further strengthened in the last three years. He pointed to high-level committees at the central government level working on sectoral reforms and a deregulation cell in the Cabinet Secretariat focused on easing regulations at the state level. "We have Indian Chamber which has more than 2,500 members, which is a chamber of Indian and German industry. It was high time that this relationship deepens further. We've seen in the last few years a number of delegations visiting India," he noted. (ANI)
|
