UPSCSSCBANKINGSTATE-PSC
Electronics imports rise due to high-value parts, challenging 'Make in India' goals.
Summary
Electronics firms' import bills have increased due to high-value parts and a weaker rupee, despite the 'Make in India' initiative. The import bill saw a decline only in FY24. This highlights the challenges in reducing import dependence in the electronics sector.
Key Points
- Electronics firms' import bills are increasing.
- The increase is attributed to high-value parts and a weaker rupee.
- The 'Make in India' campaign has not significantly reduced imports for most companies since 2018-19.
- FY24 saw a 6% decline in the consolidated import bill.
- The article focuses on the economy and trade balance.
Full Article
Industry executives attributed the rebound to greater imports of high-value parts and a weaker rupee, even as the government's Make in India campaign has so far failed to reduce imports by value for most of the companies since 2018-19, the filings revealed. The sole exception was in FY24 with a 6% decline in the consolidated import bill of these companies.
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