New Delhi, April 24
The electronics repair market in India can assist generate over 5 million direct jobs, with a possible to generate revenues of $20 billion every year, a brand new report has emphasised.
According to MAIT, the apex physique representing the ICT and electronics manufacturing sector in India, the repair and calibration of electronic subassemblies and merchandise is a $100 billion trade worldwide.
“High costs of repairing electronic goods in developed countries like the US and Europe are compelling the corporates to send goods overseas, where such repair services are provided at lower prices due to both skills and cost arbitrage,” mentioned the report titled ‘Electronic Hardware Repair Services Outsourcing’ (ERSO) launched on the Electronics and Telecom Manufacturing Summit 2021 (MAIT-ETMS).
The report made suggestions to the Centre to streamline and simplify procedures to make India a repair and refurbishment hub for IT and electronic merchandise.
“The electronics repair industry has the potential of becoming an emerging sector for employment growth in India. With the right regulatory support from the government of India, the domestic repair service sector in India can experience a tremendous boost,” mentioned Nitin Kunkolienker, President, MAIT.
“It will, thereby, generate valuable Forex revenue as well as create employment, especially during these COVID-19 times, which has made millions of Indians job-less,” he added.
The report highlighted background on the regulatory panorama and emphasised bottlenecks and difficulties being confronted day after day by the repair items in India, equivalent to numerous regulatory approvals, import/ export restrictions, funding and Infrastructure value, lack of expert workforce and expertise, e-waste associated constraints, and so forth.
“The initiative to make India an electronics repairs outsourcing hub is the next sunrise sector for the country with the potential to generate over 5 million new direct jobs and attract investment from across the globe,” the report talked about.