The Indian government is committed to working in partnership with all states to support startups and entrepreneurs keen on investing in the electronics sector to achieve $300 billion worth of production and exports by 2025-2026.
Emphasizing that India can achieve the target of $300 billion worth of electronics manufacturing and exports by 2025-2026, Shri Rajeev Chandrasekhar, Minister of State for Electronics and Information Technology, said that the government is committed to working in partnership with all states to support startups and entrepreneurs keen on investing in this sector to reach this mark.
Shri Chandrasekhar was speaking on his visit to Munoth Industries, India’s first lithium cell manufacturing facility, at the Electronics Manufacturing Cluster in Tirupati.
“Our vision is to edge past the target of $300 billion worth of electronic manufacturing and exports by 2025-26. It translates to Rs 25 lakh crores, 24 times more than what it was when PM Modi took over in 2014—1.10 Lakh crores,” he said.
The Government’s proactive policies and well-calibrated programs will support every startup, every entrepreneur to make this dream a reality, he said.
The commercial production and formal opening of the lithium-ion factory is slated for next month. The installed capacity of the plant at present is 270MWh and can produce 20,000 cells of 10Ah capacity daily.
Shri Chandrasekhar praised the Electronics Manufacturing Clusters for being a step in the direction for realizing Modi’s vision of making India the global hub of electronic manufacturing.
“The Electronics Manufacturing Clusters are fast becoming centers of creation of electronics manufacturing, innovation and jobs. They will be playing a big role in the future and shape India’s Techade in both design innovation and electronics manufacturing that are important areas of interest for our youth,” he explained.
This state-of-the-art facility has been set up by Chennai-based Munoth Industries Ltd with an outlay of Rs165 crores. The facility is located at one of the two Electronics Manufacturing Clusters set up in the temple town, by Prime Minister Narendra Modi in 2015.
Also present on the occasion were Shri Lalchand Munoth, Chairman, Shri Jaswant Munoth, Vice Chairman, Shri Vikas Munoth, Managing Director and Shri Sashi, Director.
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