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India resets target for electronics manufacturing to Rs 24 Lakh crore by 2025-2026


By TIOL News Service

NEW DELHI, MAR 18, 2023: UNION Minister of State for Skill Development & Entrepreneurship and Electronics & Information Technology Rajeev Chandrasekhar today said target of the Narendra Modi Government is to increase electronics manufacturing capability to Rs 24 Lakh crore by 2025-26, which will also help create over 10 lakh jobs.

Rajeev Chandrasekhar was addressing a packed audience of around 1,500 students from Government Sri Krishna Rajendra Silver Jubilee Technological Institute (SKSJTI), Bengaluru & other colleges at the Jnana Jyoti Auditorium as part of the 'New India for Young India' Initiative.

 Remembering 'Appu', (the popular Kannada actor Puneeth Rajkumar as he was commonly referred to) on his birthday, Rajeev Chandrasekhar said the day is observed as 'Spoorti Dina' or Inspiration Day, and that the occasion could not be more apt to discuss opportunities in #IndiaTechade with students.

Drawing a comparison between India pre-2014 and post-2014, when Narendra Modi took over as Prime Minister, the Minister said the country is today at an inflection point - the most exciting period in its history and the present generation of students were 'the luckiest generation' in Independent India's history.

"Today, Young Indians are driving the country's progress in India's Techade. There are more than 90,000 startups, including 110 unicorns, in which Young Indians are playing a big part. They have achieved their success due to their hard work and efforts and not because of any connections or famous last name," Rajeev Chandrasekhar said. "The age-old narrative of dysfunctional democracy and governance has been changed to functional democracy and maximum governance, thanks to the policies of the Narendra Modi government," he added.

After the address, the Minister had an interactive session with students in which he answered their queries ranging from skilling, R&D and innovation ecosystem, entrepreneurship opportunities & recent meeting with Microsoft co-founder Bill Gates'.

In response to a question on the concept of 'Double Engine Government', Rajeev Chandrasekhar explained that if the Government at the Centre and those in states worked in tandem with shared goals, the momentum of economic development gets enhanced. "Like in a train, if you use more horsepower to achieve greater velocity and acceleration, the economic opportunities and development also are more robust and assured, if there is a common goal shared by the states and the Centre," he said.

On a query about the SVB crisis and Indian government's role to mitigate the woes of the startups, the Minister said, "The Indian banking system is much more resilient and stronger in comparison to any other country's banking system. The startups should therefore opt for Indian banks as their preferred banking partners."

Replying to another question, Rajeev Chandrasekhar said, "At least 15 lakh young Indians from Karnataka will be given training in industry relevant Future Ready skills." He cited examples of the opening of India offices of companies like Salesforce, Truecaller and Renesas, to highlight how opportunities are abundantly available and the skilling will help to equip young Indians to take on these opportunities."

'New India for Young India' is a series of interactions initiated by Rajeev Chandrasekhar, with school and college students that involve discussions around the developments in the digital and entrepreneurial space under the leadership of Prime Minister Narendra Modi. The session was very well received by students and the faculty present in the auditorium.