Vaishnaw: India set to reach $300 billion in electronics production

India is set to hit $300 billion in electronics production over the coming years, with $100 billion coming in through exports, enabled by govt’s policies towards pushing manufacturing, communications and railways minister Ashwini Vaishnaw said.

He also highlighted the modernisation and expansion work being done in the railways, including the revamp of stations across the country, as also the ambitious bullet train project.

“The target around electronics are realistic and achievable. The component ecosystem gives us confidence. We have a lot of design work happening here too, apart from final manufacturing and other services.”

The minister said that Prime Minister Narendra Modi has been taking a deep interest in the modernisation projects, especially those that are aimed at improving the experience of the masses.

He said that around $40 billion are being spent on railway modernisation by the Modi govt, against $2 billion in the 2004-2014 decade of the previous regime.

“In the past, around 4 kms of railway track was being constructed in a day. Now it is 15 kms a day. Last year, our govt had added 5,200 kms of railway track.”

He said that while 20,000 kms of track had been electrified in all the years preceding the Modi govt, their regime has added 41,000 kms over the past decade. “Also, we have the largest station re-development programme happening across the country,” he added.

Speaking about telecom networks, the minister said that India has seen the fastest rollout of 5G services anywhere in the world. He also spoke about the development of the India stack of telecommunications equipment.