India's Manufacturing Sector Eyes AI Tools to Enhance Competitiveness
India lagged on hi-tech factories, but AI tools can boost competitiveness
Business Standard
Image: Business Standard
India's manufacturing sector is shifting focus towards artificial intelligence (AI) to enhance competitiveness, driven by a regulatory push from the Ministry of Electronics and Information Technology (Meity). The aim is to increase local value addition in electronics, particularly in smartphones and components, to establish India as a high-value manufacturing hub.
- 01The Ministry of Electronics and Information Technology (Meity) is promoting AI in manufacturing.
- 02The production-linked incentive (PLI) scheme ties benefits to local value addition targets.
- 03Current local value addition in smartphones is 20%, aiming for 35-40%.
- 04Local value addition in electronic components is targeted to rise from 25% to 50%.
- 05The initiative seeks to position India beyond just an assembly hub for electronics.
Advertisement
In-Article Ad
India's manufacturing sector is undergoing a transformation, leveraging artificial intelligence (AI) to enhance its global competitiveness. The Ministry of Electronics and Information Technology (Meity) is spearheading this change, emphasizing that the benefits of the production-linked incentive (PLI) scheme are contingent upon achieving domestic value addition targets. Currently, local value addition in smartphones stands at 20%, with a goal to elevate it to 35-40%. Similarly, the value addition in electronic components is set to increase from 25% to 50%. This strategic shift aims to position India as a high-value manufacturing destination rather than merely an assembly hub for electronics.
Advertisement
In-Article Ad
This initiative could lead to increased job opportunities and higher wages in the manufacturing sector as companies invest in advanced technologies and local production.
Advertisement
In-Article Ad
Reader Poll
Do you think increasing local value addition in electronics will benefit India's economy?
Connecting to poll...
More about Ministry of Electronics and Information Technology
Read the original article
Visit the source for the complete story.