Understanding US Tariffs and Their Effects on India's Electronics and Medical Device Industries
US Tariffs and Their Effects on India's Electronics Sector
US tariffs are altering the landscape for India's electronics industry. According to Ashok Chandak, president of the Indian Electronic and Semiconductor Association, the immediate outlook remains stable, with potential fluctuations in exports to the US. A dip in India’s $12 billion electronics exports could occur if demand declines due to tariff-induced price hikes. Despite this, India’s competitive advantages over China, Vietnam, and other countries suggest sustained growth in exports.
Opportunities in PLI Schemes and Semicon India Program
The government initiatives like the PLI scheme for electronic components and the Semicon India program are establishing a robust foundation for growth. These programs aim to boost domestic manufacturing and enhance value addition, promising a bright future for India’s electronics and medical device industries. The vast US market represents significant opportunities for expansion, even amid tariff changes.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.