{"id":35429,"date":"2025-01-14T19:25:33","date_gmt":"2025-01-14T13:55:33","guid":{"rendered":"https:\/\/www.nextias.com\/ca\/?p=35429"},"modified":"2025-03-01T15:59:26","modified_gmt":"2025-03-01T10:29:26","slug":"india-sunrise-sector","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/14-01-2025\/india-sunrise-sector","title":{"rendered":"India\u2019s Sunrise Sector"},"content":{"rendered":"\n<p><strong>Syllabus :GS 3<\/strong><strong>\/Economy<\/strong><strong>&nbsp;<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>In News<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>India&#8217;s G20 Sherpa, Amitabh Kant emphasized that India needs to excel in &#8220;<strong>sunrise sectors&#8221;<\/strong> to achieve the goal of becoming a <strong>developed nation and a USD 32 trillion economy by 2047.<\/strong><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>About Sunrise sectors<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>It refers to a rapidly growing sector in its early stages with high potential for expansion.&nbsp;<\/li>\n\n\n\n<li>These industries experience significant growth, a rise in startups, and attract substantial venture capital funding, making them appealing to investors for long-term growth prospects.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Sunrise sectors in India : Potential&nbsp;<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Electronics and Semiconductors:<\/strong> India\u2019s electronics industry is driven by initiatives like the PLI Scheme and SEMICON India Program.\n<ul class=\"wp-block-list\">\n<li>The semiconductor market is expected to triple by 2026, with a production value of $300 billion by FY26.<\/li>\n\n\n\n<li>Government schemes like the Modified Scheme for Semiconductor Fabs provide significant financial incentives.<\/li>\n\n\n\n<li>India is emerging as a global hub for <strong>electronics and semiconductor manufacturing.<\/strong><\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Electric Vehicles (EV)<\/strong>: India is promoting electric mobility with initiatives like FAME II and 100% FDI allowance.\n<ul class=\"wp-block-list\">\n<li>The EV sector has over 12,000 operational charging stations and is expected to see massive growth.<\/li>\n\n\n\n<li>The PLI Scheme for Advanced Chemistry Cells supports local battery manufacturing, driving down costs.<\/li>\n\n\n\n<li>India\u2019s EV sector offers opportunities in manufacturing and infrastructure development while contributing to sustainability.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Renewable Energy: <\/strong>India aims to achieve 500 GW of non-fossil fuel-based energy by 2030.\n<ul class=\"wp-block-list\">\n<li>Initiatives like the <a href=\"https:\/\/www.nextias.com\/ca\/editorial-analysis\/06-01-2023\/national-green-hydrogen-mission-catching-the-bus\" data-type=\"link\" data-id=\"https:\/\/www.nextias.com\/ca\/editorial-analysis\/06-01-2023\/national-green-hydrogen-mission-catching-the-bus\"><strong>National Green Hydrogen Mission<\/strong><\/a> and Offshore Wind Energy targets attract investment in green technologies.<\/li>\n\n\n\n<li>The sector benefits from favorable regulatory frameworks, R&amp;D promotion, and international collaboration.<\/li>\n\n\n\n<li>India offers substantial opportunities for investors in the clean energy transition.<\/li>\n\n\n\n<li><strong>India\u2019s solar panel manufacturing<\/strong> industry is 5-7 years behind global standards.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Agro and Food Processing (A&amp;FP): <\/strong>Programs like Pradhan Mantri Kisan Sampada Yojana and liberalized FDI norms create investment opportunities in agriculture and food processing.\n<ul class=\"wp-block-list\">\n<li>Schemes like the PLI Scheme for Food Processing Industry incentivize investment in food infrastructure.<\/li>\n\n\n\n<li>India\u2019s agricultural sector offers potential for value addition, exports, and food security.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Healthcare : <\/strong>India\u2019s healthcare and pharmaceutical sectors are poised for growth, with the medtech industry expected to reach $50 billion by 2025.\n<ul class=\"wp-block-list\">\n<li>Initiatives like Ayushman Bharat focus on improving healthcare accessibility and affordability.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Pharmaceuticals: <\/strong>India\u2019s pharmaceutical industry, known for vaccine production and generic medicines, offers robust investment opportunities.\n<ul class=\"wp-block-list\">\n<li>The sector benefits from favorable conditions like 100% FDI allowance and supportive infrastructure.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Artificial intelligence :&nbsp; <\/strong>&nbsp;AI and ML are transforming industries globally, with India well-positioned to capitalize on these technologies.\n<ul class=\"wp-block-list\">\n<li><strong>They&nbsp; are being applied across industries such as healthcare, finance, education, and manufacturing, fostering innovation and efficiency.<\/strong><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Challenges Facing Sunrise Sectors in India:<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>&nbsp;Inconsistent policy implementation <\/strong>and frequent changes create uncertainty.\n<ul class=\"wp-block-list\">\n<li>Delays in approvals and fragmented regulations hinder investment and growth.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Insufficient infrastructure<\/strong>, especially EV charging stations and renewable energy grid integration.<\/li>\n\n\n\n<li><strong>Lack of substantial investments<\/strong> in research and development (R&amp;D).<\/li>\n\n\n\n<li><strong>Shortage of specialized talent<\/strong> in fields like AI, renewable energy, and EVs.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Conclusion and Way Forward&nbsp;<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>India&#8217;s sunrise sectors offer compelling investment opportunities due to strong human resources and supportive government policies,<strong> including 100% FDI under automatic routes.&nbsp;<\/strong><\/li>\n\n\n\n<li>These sectors provide robust growth potential, economic prosperity, and avenues for sustainable development, making them attractive destinations for investment.<\/li>\n\n\n\n<li>Therefore overcoming regulatory, infrastructure, technological, and financial challenges is crucial for unlocking the potential of India\u2019s sunrise sectors.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>Source :ET<\/p>\n","protected":false},"excerpt":{"rendered":"<p>India&#8217;s G20 Sherpa, Amitabh Kant emphasized that India needs to excel in &#8220;sunrise sectors&#8221; to achieve the goal of becoming a developed nation and a USD 32 trillion economy by 2047.<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-35429","post","type-post","status-publish","format-standard","hentry","category-current-affairs"],"acf":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/35429","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=35429"}],"version-history":[{"count":2,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/35429\/revisions"}],"predecessor-version":[{"id":38244,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/35429\/revisions\/38244"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=35429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=35429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=35429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}