NITI AAYOG’S RECOMMENDATIONS TO BOOST ELECTRONICS SECTOR
Why in the news?
- NITI Aayog has proposed measures to grow India’s electronics sector from $100 billion to $500 billion by 2030.
- The recommendations include simplifying import tariffs and offering fiscal incentives for domestic manufacturing.
source:Solutionbuggy
Key Proposals
- Simplify tariffs for components to make India’s electronics exports more competitive globally.
- Offer fiscal support for design-focused companies and ease technology transfer processes.
Expected Outcomes
- Business-as-usual scenario: sector growth to $275 billion by FY30.
- Export-focused scenario: sector growth to $500 billion by FY30, with exports increasing from $24 billion to $240 billion.
National Institution for Transforming India (NITI Aayog)
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Associated Article: https://universalinstitutions.com/it-hardware-pli-scheme-2-0/ |