The Electronics and Computer Software Export Promotion Council (ECS) has prepared a strategy paper for augmenting software exports to $ 178 billion by 2022.
The strategy paper highlights the need for some policy level changes.
The paper spells out specific policy prescriptions, market destinations and other enabling inputs that can bring about transformational changes in the Indian software and services exports. Specific suggestions include judiciously blending software and hardware, creating newer export outlets, fiscal incentives, country specific software export promotion measures for destinations like Germany, France, Japan, China, Latin America, Africa etc.
Regarding hardware and electronics sector, Mr DK Sareen, Executive Director, Electronics and Computer Software Export Promotion Council said that India’s electronics production in 2016-17 was estimated at about US$ 40 Billion. Over 60 per cent of the demand is met through imports. At the current rate of growth, the domestic production can cater to a demand of US$ 75-100 billion in 2020 as against the projected demand of US$ 400 billion, the rest would have to be met by imports. This aggregates to a demand supply gap of nearly US$ 300 billion by 2020. India’s export performance in electronic hardware has so far been wanting. Strategically it is extremely important for us to be able to scale up the current US$6 billion exports to US$20 billion in the next five years.
He further said that the opportunity areas of export in electronics hardware identified in the study includes items such as electronics energy meters, IOT’s in the energy efficiency area and electronics components, sub-contracting and Electronics Manufacturing Services.