Mains Paper 3: Economy | Effects of liberalization on the economy, changes in industrial policy and their effects on industrial growth
From UPSC perspective, the following things are important:
Prelims level: NPE 2019
Mains level: India’s ESDM sector
- The Union Cabinet gave its approval to the National Policy on Electronics 2019 (NPE 2019), proposed by the Ministry of Electronics and Information Technology .
National Policy on Electronics 2019
- The Policy envisions positioning India as a global hub for Electronics System Design and Manufacturing – by encouraging and driving capabilities in the country.
- It facilitates for developing core components, including chipsets, and creating an enabling environment for the industry to compete globally.
- The Policy replaces the National Policy of Electronics 2012 (NPE 2012).
- Provide incentives and support for manufacturing of core electronic components
- Provide special package of incentives for mega projects which entail huge investments, such as semiconductor facilities display fabrication, etc.
- Promote Industry-led R&D and innovation in all sub-sectors of electronics, including grass root level innovations and early stage Start-ups in emerging technology
- Provide incentives and support for significantly enhancing availability of skilled manpower, including re-skilling
- Special thrust on Fabless Chip Design Industry, Medical Electronic Devices Industry, Automotive Electronics Industry and Power Electronics for Mobility and Strategic Electronics Industry
- Create Sovereign Patent Fund (SPF) to promote the development and acquisition of IPs in ESDM sector.
- Promote trusted electronics value chain initiatives to improve national cyber security profile.
- The NPE 2019 when implemented will lead to formulation of several schemes, initiatives, projects, etc. for the development of ESDM sector in the country.
- It will enable flow of investment and technology, leading to higher value addition in the domestically manufactured electronic products.
- It will lead to increased electronics hardware manufacturing in the country and their export, while generating substantial employment opportunities.