Union minister of electronics and IT Ashwani Vaishnaw on Friday expressed optimism about a “positive outcome” from US Vice-President J.D. Vance’s first India visit scheduled for next week amid ongoing bilateral trade negotiations between the two countries.
Vaishnaw highlighted the pragmatic approach and sustained dialogue between both nations, emphasising India’s emergence as a reliable hub for electronics manufacturing.
“There will be very positive outcome is what I can say with a good level of confidence, because we have approached this thing in a very pragmatic way, and very agile way, and we have continuously engaged,” Vaishnaw said.
“Over a period of time, India has emerged as a very trusted country, because the way Prime Minister Narendra Modi conducted foreign policy, that trust has got generated about our country today, and that is going to be a big and important factor for all of us,” Vaishnaw said.
Vance, along with Second Lady Usha Vance and their children, and senior members of the US administration, are coming to India on an official visit between April 21 and 24, according to a statement from the ministry of external affairs. During the visit, he will be meeting with Prime Minister Narendra Modi on April 21, 2025.
The visit is expected to provide an opportunity for both sides to review the progress in bilateral relations, and the two sides are expected to exchange views on regional and global developments of mutual interest, the ministry said.
Industry geared up
Vaishnaw said that India’s electronics manufacturing and export prowess have grown multi-fold in the last decade, driven by enabling policies and incentives.
Inaugurating VVDN Technologies’ SMT (Surface Mount Technology) line at Manesar, the minister said that electronics manufacturing in India has risen five-fold in the last decade, topping ₹11 lakh crore. Exports have grown six times during this period, crossing ₹3.25 lakh crore. The entire ecosystem has spurred 25 lakh jobs.
“Now addition of electronics components incentives, approved by the Cabinet recently, will improve the depth of the electronics manufacturing ecosystem, leading to more opportunities,” he said.
On whether China’s export curbs on critical rare earth minerals would have any implication for Indian component manufacturing, Vaishnaw said Indian industry expects that they will be able to work out alternatives.