Strengthening India's Electronics Infrastructure at the CII Electronics Summit 2024
The 7th CII Electronics Summit, themed "Vision to Reality: Unfolding the Electronics Manufacturing Journey in India," took place with a focus on advancing India's electronics and semiconductor manufacturing sector. The summit provided a platform for discussions on challenges, opportunities, and the roadmap ahead in the electronics manufacturing sector.
Plenary Sessions Highlight Key Priorities
The first plenary session focused on India's heavy reliance on imported components and the need to establish a summit racing sustainable domestic ecosystem for electronics manufacturing. Key priorities identified for India's auto electronics sector include boosting local value addition, investing in R&D, addressing the shortage of skilled manpower, and seeking policy and regulatory support.
The second plenary session delved into the auto electronics sector, projected to grow significantly by 2032. Export demand for auto electronics is forecasted to range from USD 6.6 billion to USD 10.7 billion, with a CAGR of 15.8% to 21.4%. The market is expected to reach over USD 70 billion by 2032, with domestic demand projected to rise at a CAGR of 21.5%.
Discussions in the second plenary session highlighted the integration of advanced technologies such as artificial intelligence, sensors, and electric vehicle components in redefining the automotive landscape.
Strategies for Advancement
Mr. Ishtiyaque Ahmed, Programme Director at NITI Aayog, emphasized the importance of integrating domestic manufacturers into global value chains and encouraging innovation and scale in the electronics sector. He also stressed the need for domestic design and intellectual property (IP) capabilities to position India as a leader in high-value electronics manufacturing.
Mr. Rajeev Singh Thakur, Additional Secretary at DPIIT, emphasized the government's role in fostering an enabling environment for investments in the electronics sector. He highlighted the government's initiatives like the Production Linked Incentive (PLI) scheme and the simplification of regulatory frameworks as critical drivers of India's push towards becoming a global electronics manufacturing hub.
Navigating Investments and Opportunities
The session "Navigating the Investment and Emerging Opportunities in the Electronics and Semiconductor Sector" addressed the sector's transformative potential and investment strategies for growth. Investment and funding are crucial for the sector's expansion, with speakers emphasizing the importance of creating an investor-friendly environment.
Role of Startups and MSMEs
Startups are shaping the future of the industry by leveraging emerging technologies such as artificial intelligence, smart manufacturing, 5G, and wearable devices. The summit also emphasized the importance of fostering public-private partnerships, reducing dependence on imports, and empowering MSMEs to play a significant role in the electronics value chain.
Conclusion and Future Prospects
The conclusion of the summit reiterated the importance of sustained efforts, innovation, and partnerships for the success of India's electronics and semiconductor sectors. The future of India's electronics and semiconductor sectors is destined to become a global benchmark for excellence.
Entrepreneurs such as Sanjay Gupta (chairman of the Electronics and Semiconductor Committee of CII) and government representatives including Ashwini Vaishnaw (India's Minister of Electronics and IT) participated in the 7th CII Electronics Summit, discussing strategies for advancing India's electronics and semiconductor manufacturing sector. The summit marked a significant step towards realising India's vision of becoming a global leader in electronics manufacturing.
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