Expressing optimism over export growth, Niti Aayog CEO Amitabh Kant has said India was pursuing a policy of import substitution so far, and in future, the country's policy will essentially focus on export-led growth. He also said India has huge potential to become a global manufacturing hub for electronics products.
Kant said the National Policy for Electronics 2019 has already identified exports of electronics from India to the world and added that mobile devices will be the largest segment, almost accounting for 1/3rd of the manufacturing sector. He noted that “We will try and push this huge impetus to growth in the context of the Prime Minister's vision to make India $5 trillion economy by 2024 and we will give it the great export orientation to the sector”.
Besides, the government has constituted a committee which includes the Niti Aayog CEO, the finance secretary, DIPP secretary, secretary MEITY. Niti Aayog CEO further said “We are all working together to see, how we can do large scale manufacturing, how to make India very integral part of the global supply chain”. He emphasized that the government remains committed to creating a very conducive environment for manufacturing electronics products in India.
