The Ministry of Electronics and IT has started a pilot project on electronics repair services outsourcing which it expects to have a revenue potential of USD 20 billion over a period of 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 a hitherto untapped domain, an official statement said on Wednesday.
"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," the statement said.
Meity, Central Board Of Indirect Taxes and Customs (CBIC), Director General of Foreign Trade (DGFT) and Environment Ministry jointly worked with 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.
Five companies, namely Flex, Lenovo, CTDI, R-Logic and Aforeserve have volunteered for the pilot. Post the pilot a detailed assessment will be carried out and modifications made in the process and policy as necessary, the statement said.
Reacting on the development, IT hardware industry body MAIT Director General AA Jafri said that ERSO will enable extension of device life globally by providing cheap and reliable repair of ICT (Information and Communication Technology) products for the globe.