New Delhi: The electronics repair market in India can help generate over five million direct jobs, with a potential to generate revenues of $20 billion per annum, a new report has emphasised.According to MAIT , the apex body representing the ICT and electronics manufacturing sector in India, the repair and calibration of electronic subassemblies and products is a $100 billion industry 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," said the report titled ' Electronic Hardware Repair Services Outsourcing ' (ERSO) launched at the Electronics and Telecom Manufacturing Summit 2021 (MAIT-ETMS).The report made recommendations to the Centre to streamline and simplify procedures to make India a repair and refurbishment hub for IT and electronic products. "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," said Nitin Kunkolienker, President, MAIT. "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 mentioned.

Source: Economic Times April 24, 2021 10:02 UTC