Nasscom, IESA sign pact to push IT, mfg’s share to 25% of GDP
Nasscom and electronics industry body IESA on Monday entered into a partnership with an aim to push the share of electronics manufacturing and IT to 25 <g data-gr-id="25">per cent</g> of the country’s GDP by 2025.
“The collaboration between Nasscom and IESA is a natural outcome of similar goals and mindset. We have signed memorandum of understanding (Mo) with Nasscom with a vision to take share of ESDM and IT in country’s GDP to 25 per cent by 2025,” said India Electronics and Semiconductor Association Chairman Vinay Shenoy. India has been a global leader in building and delivering software and IT services, which contributes more than 9 <g data-gr-id="22">per cent</g> of the GDP.
Indian Electronic System Design and Manufacturing (ESDM) market is expected to grow from $76 billion in 2013 to $94 billion in 2015 and touch $400 billion by 2020. Over 90 per cent of country’s electronic market is dominated by imports. “In recognition of the transformative impact of IT on the Indian economy and the government’s vision of ‘Make in India’, we believe that there is an equal opportunity for the country to win the next wave of electronics design led manufacturing,” Nasscom President and former IT and Telecom secretary R Chandrashekhar said.