India must encourage growth of the electronics manufacturing sector to cut dependence on imported components, said Kris Gopalakrishnan, Chairman of the Karnataka Vision Group on IT and President of CII while delivering the keynote address at a conference on ‘Future of IT and electronics’, in Mangalore on Friday.
He said the country was importing around $100 billion worth of electronics components, and this was likely to touch $400 billion by 2018. So, developing the domestic sector should be a national priority, he said.
He suggested that the Government should make it easy and affordable for investors to fund the sector in India. He said the Indian IT sector was growing at a rate of 12-14 per cent as against the global growth rate of 3-4 per cent.