According to secretary, Department for Promotion of Industry and Internal Trade (DPIIT), India is targeting annual electronics and semiconductor production worth $500 billion by 2030 and $5.3-8 trillion by 2047 as part of its long-term manufacturing strategy.
He said that the government’s Viksit Bharat vision has been translated into detailed sector-specific roadmaps, outlining targets to be achieved by 2047 and the actions required by 2030. He mentioned that the planned expansion of India’s electronics and semiconductor manufacturing ecosystem is expected to unlock significant opportunities across the manufacturing value chain.
Further highlighting India-Germany economic relations, he stated that the two countries share more than 25 years of strategic partnership and 75 years of diplomatic relations. He added that business ties between the two nations span over a century, with German companies having a presence in India even before Independence.
Furthermore, he also said India remains one of the world’s fastest-growing major economies, supported by the government’s continued focus on structural reforms and implementation. He noted that high-level committees are driving sector-specific reforms, while a deregulation cell in the cabinet secretariat is working with states to simplify regulations and improve the ease of doing business.