India’s renewed thrust on local electronic manufacturing and its hunger for digitalisation is shaping the contours of another industrial sunrise. A sector which was hitherto untapped, a sector which has a stronger groundswell than even the software sector had in its infancy in India. This sector is the electronics repair sector.
Each year millions of electronic devices are being sold and purchased in India. From laptops, mobiles, tablets, to televisions, speakers and wearables, the list getting longer and each one requires a repair and services support eco-system. The scale itself is so huge that as per a study by Manufacturer’s Association of Information Technology (MAIT), the electronic repairs market is projected to generate revenues of $ 20 billion per annum in the next four years (from 2025 onwards). It is also foreseen to be among the largest and fastest growing industries in the world.
With a slew of schemes such as PLI (for IT Hardware, Mobile phones, Semiconductors and Display units), SPECS, RoDTEP etc., promoting electronics manufacturing through incentives, this billion-dollar industry shall result in incremental tax revenue generation for the Government of India. Indians as citizens have a tendency to favour repair and maximise life of every equipment that they use. This has the potential of supporting a creative ecosystem in the hardware manufacturing space. A global repair hub in India opens up plenty of opportunities for repairers to earn income thereby generating massive tax revenue for the Government of India.
Read more at: https://economictimes.indiatimes.com/small-biz/sme-sector/not-just-manufacturing-electronics-repair-is-a-20-billion-opportunity-create-5-million-jobs/articleshow/89557224.cms
Comments