New Delhi, Apr 24 (IANS): 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.

"It will, thereby, generate valuable Forex revenue as well as create employment, especially during these COVID-19 times, which has made millions of Indians job-less," he added.

The report highlighted background on the regulatory landscape and emphasised bottlenecks and difficulties being faced day to day by the repair units in India, such as various regulatory approvals, import/ export restrictions, investment and Infrastructure cost, lack of skilled workforce and technology, e-waste related constraints, etc.

"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.