According to Ravi Shankar Prasad, minister for telecommunications and electronics and information technology, electronics manufacturing industry alone can contribute $1 trillion to the Prime Minister’s vision of making India a $5 trillion economy by 2025.
The minister added that the government has set a target of manufacturing 1 billion mobile phones, 50 million televisions and 50 million hardware devices by 2025. Further, he added that the 16 companies approved under the latest the production-linked incentive (PLI) scheme, have already started production and are on their path to generate an output of Rs 10 trillion by 2025. The government plans to extend PLI scheme to domestic manufacturing of laptops and tablets, he added.
Highlighting the role of Modified Special Incentives Package Scheme (M-SIPS) 2016, Prasad said that while the government has disbursed over Rs 10 billion in incentives, the manufacturing firms have paid Rs 350 billion in taxes and contributed to exports worth Rs 470 billion.
Talking about the growth of digital inclusiveness, Prasad said that because of the Jan-Dhan, Aadhar, Mobile (JAM) trinity, the government has disbursed over Rs 13 trillion under 400 government schemes directly to the bank accounts of the poor in the last five-and-a-half years. The growth of digital payments by way of unified payments interface (UPI) has recorded the highest ever transactions of 2.21 billion in the month of November 2020, he said. Meanwhile, highlighting the digitisation in agriculture sector, Prasad said that India hosts close to 1000 e-mandis in 21 states.
