The Ministry of Electronics and IT has started a pilot project on electronics repair services outsourcing from which it expects to have a revenue potential of USD 20 billion for the next five years. The project has been identified as a game-changer for India and has been supported by the Government to make India a world leader in an untapped domain.
"The government launched the ERSO Pilot initiative today to validate certain transformational policy and process changes to make India the repair capital of the world," an official statement said on Wednesday.
Meity, Central Board of Indirect Taxes and Customs (CBIC), Director General of Foreign Trade (DGFT) and Environment Ministry jointly worked with the industry to roll out the pilot project.
"Over the next five years, India's ERSO industry is likely to fetch India up to USD 20 billion in revenue and also generate millions of jobs," the statement said.
The pilot is being held in Bengaluru and will be run for a period of three months commencing today.
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