CII says electronic component manufacturers need govt aid

Industry body CII has demanded that the government provide 6-8% fiscal support for select electronic components and sub-assemblies for a period of eight years to help strengthen the domestic manufacturing sector and curb imports.

The Confederation of Indian Industry (CII), in a report, stated that the demand for electronic components and sub-assemblies would grow to $240 billion to support $500 billion of production by 2030 from $45.5 billion to support $102 billion production in 2023. “Priority components and sub-assemblies, includingPCBAs (printed circuit board assembly), are projected to grow at a robust CAGR of 30%, reaching $139 billion by 2030,” according to the report on “developing India as the manufacturing hub for electronics components and sub-assemblies”.