Nasscom and IESA join hands to push IT and electronics manufacturing to 25% of GDP

Nasscom and IESA have entered into a strategic alliance to push the share of IT and electronics manufacturing to 25% of India's GDP by 2025.

IT services currently account for more than 9% of the country’s GDP.

"The collaboration between Nasscom and IESA is a natural outcome of similar goals and mindset. We have signed memorandum of understanding (MoU) 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 told reporters today.

India’s Electronic System Design and Manufacturing (ESDM) market is estimated to rise from $76 billion in 2013 to $94 billion in 2015 and reach $400 billion by 2020.

"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," National Association of Software Companies (Nasscom) President and former IT and Telecom secretary R Chandrashekhar told reporters.

(Image credit: Indiatimes)