India needs to develop electronics, telecommunication: PM

New Delhi, Dec 5: India needs to develop a strong domestic manufacturing base in electronics and telecommunication to avoid huge import bills, said Prime Minister Manmohan Singh Thursday.

“I would like to take today’s opportunity to repeat a point that I made last year. India needs to develop a strong domestic manufacturing base in electronics and telecommunication. It is estimated that by 2020 India will be importing electronics product worth $300 billion, which will be more than the value of our oil imports.

“We need to act now to avoid a situation where we face difficulties in financing these imports. India should have manufacturing facilities which result in a balanced trade in electronics products and are part of global supply change,” the prime minister said after inaugurating India Telecom 2013 organised by FICCI and the department of telecommunication here.

IANS