Union Budget 2024-25: Here’re key challenges in electronics & semiconductor | Economy & Policy News

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Key challenges


 Increasing domestic value addition and balancing jobs by improving organic competitiveness

 Execution of infra needs to keep pace with sectoral growth

 Skilling and upskilling of human resources to meet quality and technical needs

 Improving ease of doing business due to unclear definitions in existing policies

Industry ask

 Reduce seven tariff slabs to three to align the structure to competing electronics manufacturing nations

 Conducive regulatory and policy environment for increasing domestic value addition through supply chain localisation

 Policy continuity across critical segments to build long-term capability and capacity in India

 Funding to states for faster execution of electronics manufacturing infra

Simplified tariffs, increased FTAs, and enhanced ease of doing business will help build the ecosystem in the short term. Strategic geopolitical alignment will help build long-term competitiveness for India”

 Sujay Shetty, Managing Director, (ESDM & Semiconductor), PwC India    

First Published: Jul 11 2024 | 12:47 AM IST

Source: Latest News