Gathering at the Electronics Summit 2024: Building a Robust Electronics Infrastructure for India
The 7th CII Electronics Summit, themed "Vision to Reality: Unfolding the Electronics Manufacturing Journey in India," recently took place, bringing together industry leaders, policymakers, and stakeholders to discuss the future of the electronics sector in the country.
The auto electronics sector is at the forefront of this transformation, integrating advanced technologies such as artificial intelligence, sensors, and electric vehicle components to redefine the automotive landscape. The second plenary session focused on this sector, with a projected growth of over USD 70 billion by 2032 in India.
The first plenary session highlighted India's heavy reliance on imported components and the need to establish a sustainable domestic ecosystem. Mr. Rajeev Singh Thakur, Additional Secretary at DPIIT, emphasized the government's role in fostering an enabling environment for investments in the electronics sector. The Production Linked Incentive (PLI) scheme and simplification of regulatory frameworks were identified as critical drivers of India's push towards becoming a global electronics manufacturing hub.
Mr. Ishtiyaque Ahmed, Program Director at NITI Aayog, underscored the importance of integrating domestic manufacturers into global value chains and encouraging innovation and scale. He also emphasized the need to address the shortage of skilled manpower, boost local value addition, invest in R&D, and seek policy and regulatory support.
The summit also discussed the long-term vision of establishing domestic design and intellectual property (IP) capabilities in India. Creating an investor-friendly environment was deemed essential to attract both domestic and international stakeholders.
The 7th CII Electronics Summit also delved into investment opportunities in semiconductors and Electronic Manufacturing Services (EMS), trends driving innovation, and strategies for navigating supply chain complexities. Discussions revolved around reducing dependence on imports, fostering public-private partnerships, and empowering MSMEs to play a significant role in the value chain.
Startups are shaping the future of the industry by leveraging emerging technologies like artificial intelligence, smart manufacturing, 5G, and wearable devices. A consensus emerged on the need for collaboration and alignment between industry and policymakers to accelerate progress in the electronics sector.
The success of the electronics and semiconductor sectors' journey from vision to reality depends on sustained efforts, innovation, and partnerships. The summit emphasized that companies and institutions are investing in Indian electronics and semiconductor manufacturing to help make India a global electronics manufacturing hub. However, the specific names of these companies or institutions were not detailed in the available search results.
The summit also forecasted a robust growth in the demand for auto electronics, with domestic demand expected to reach USD 63.7 billion, growing at a CAGR of 21.5%. 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%.
India's story in the electronics and semiconductor sectors is still being written, with the potential to become a global benchmark for excellence. The 7th CII Electronics Summit aims to advance this sector, paving the way for a brighter, more technologically advanced future for India.
