Electronic and Smartphone Manufacturing Sector to Contribute $1 trillion

Mumbai, India – The Associated Chambers of Commerce & Industry of India (ASSOCHAM) lately organized a series of sessions discussing the central theme ‘India’s resilience: Aatmanirbhar roadmap towards a US$5 trillion economy.’ Hon’ble Union Minister of Law and Justice, Electronics and Information Technology and Communications, Shri Ravi Shankar Prasad, stated during the session that there is a robust future for the manufacturing of electronics and smartphone sector in India. “We have come a long way from the just two factories in 2014 to 250 manufacturing factories today. By proper scaling of the manufacturing, the sector alone can contribute $1 trillion towards fulfilling the dream of achieving the $5 trillion economy.”

He further added that the right policies make a mark difference in the output and growth of the sector. “The production Linked Incentive Scheme (PLI) that we introduced to the sector during the Covid pandemic, attracted top 5 global players to India as expected by us. And the top 5 companies in India will be able to perform better. Out of that the exports figure would be ? 7 lakh crore and the sector will generate employment of 9 lakhs jobs directly or indirectly. By 2025 India would be able to manufacture 1 billion phones, 50 million televisions, 50 million hardware including Laptops and tablets and other accessories.

He further added that the digital ecosystem in India will only work if the common people of the country are made stakeholders. “The technology like artificial intelligence (AI) should be used in areas like farming and healthcare, to benefit the people at large, and then only the ecosystem will survive. The aim is to empower an ordinary citizen to digital technology by the homegrown, low-cost technology and truly achieve inclusiveness.” 

Dr Niranjan Hiranandani, President ASSOCHAM said, “The areas of emerging technologies offer a dual opportunity for us in India. On the one hand, there is an opportunity for India to emerge as a leader in the design and development of products and services in new and emerging technologies. On the other hand, the application of advanced technologies has the potential to create improved access for Indian companies to global markets, new employment opportunities and efficiency improvement”

On exploiting India’s huge demographic advantage and young talent pool, Kulmeet Bawa, President and Managing Director, SAP India, asserted, “The vision of AtmanirbharBharat can be greatly facilitated through digital enablement of citizens, businesses and government and by addressing key fundamentals such as enabling MSMEs, up-skilling workforce, and leveraging emerging technologies to manage supply chain disruptions.”

Stating that technology has turned out to be saviour in keeping people connected and businesses operational amidst these trying times, Deepak Sood, Secretary General, ASSOCHAM, added, “Adopting emerging technologies helped companies continue operations and cater to their customers at a time when lockdowns, social distancing, and other safety measures, hampered traditional methods.”

Image Source: Magic Wand Media

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