Reinforcing India's Electronic Sector at the CII Electronics Summit 2024
7th CII Electronics Summit: Unfolding India's Electronics Manufacturing Journey
The 7th CII Electronics Summit, held recently, brought together industry leaders, policymakers, and startups to discuss strategies for advancing India's electronics and semiconductor manufacturing sector. The summit's theme, "Vision to Reality: Unfolding the Electronics Manufacturing Journey in India," reflected the ambition to position India as a global leader in high-value electronics manufacturing.
The first plenary session focused on India's heavy reliance on imported components and the need to establish a sustainable domestic ecosystem. The growth of the auto electronics industry, which is integrating advanced technologies such as artificial intelligence, sensors, and electric vehicle components, was a key topic of discussion. The sector is projected to grow significantly by 2032, with the auto electronics market expected to reach over USD 70 billion, and domestic demand projected to reach USD 63.7 billion.
The growth rate of auto electronics demand is impressive, with expectations of a CAGR of 21.5% for domestic demand and 15.8% to 21.4% for export demand. The auto electronics industry is shaping the future, with startups playing a crucial role by leveraging emerging technologies such as artificial intelligence, smart manufacturing, 5G, and wearable devices.
The government's initiatives, like the Production Linked Incentive (PLI) scheme and simplification of regulatory frameworks, were highlighted as critical drivers of India's push towards becoming a global electronics manufacturing hub. Policy and regulatory support are essential for building a competitive and sustainable auto electronics ecosystem.
Investment and funding are crucial for the expansion of the auto electronics sector. Speakers emphasized the importance of creating an investor-friendly environment. The session "Navigating the Investment and Emerging Opportunities in the Electronics and Semiconductor Sector" provided insights into this aspect.
Mr. Rajeev Singh Thakur, Additional Secretary at DPIIT, emphasized the government's role in fostering an enabling environment for investments. Mr. Ishtiyaque Ahmed, Programme Director at NITI Aayog, highlighted the importance of integrating domestic manufacturers into global value chains.
Discussions revolved around reducing dependence on imports, fostering public-private partnerships, and empowering MSMEs to play a significant role in the value chain. The long-term vision of establishing domestic design and intellectual property (IP) capabilities was also discussed, with the aim of positioning India as a leader in high-value electronics manufacturing.
The summit provided a platform for insightful discussions on challenges, opportunities, and the roadmap ahead. However, no relevant information about companies participating in the 7th CII Electronics Summit supporting R&D and new investments in the Indian electronics and semiconductor industry was found in the search results.
The success of India's journey in the electronics and semiconductor sectors depends on sustained efforts, innovation, and partnerships. Key priorities for India in the auto electronics sector include boosting local value addition, investing in R&D, and addressing the shortage of skilled manpower. The auto electronics industry is indeed shaping the future, and the 7th CII Electronics Summit was a significant step towards achieving India's vision of becoming a global leader in electronics manufacturing.
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