India is expected to create employment opportunities for up to 27.8 million people and demand has been valued at USD 400 billion in 2020. 

Currently, the country is not fully utilizing its talent and capabilities in manufacturing to address this increase in demand. As such, the government can set up innovation lab, business accelerator, manufacturing plants, generate employment, lower the existing level of imports and give impetus to the economy. Exports in the industry are expected to increase to USD 80 billion by FY20.

Significant growth potential: Growth in the ESDM industry will boost the economy, as this industry works as a feeder industry for other industries. Enhanced production in this industry will lead to growth in several other industries where hardware/components are required.

Employment opportunities: It is anticipated that the industry can potentially employ close to 27.8 million by 2020. Employment features as one of the most important priorities on the government’s agenda. This industry is skill labour-intensive and can employ a large number of people with standard educational qualifications.

Small and medium enterprises (SMEs): The SME segment is the key growth driver of the manufacturing industry. However, the sector is cost-sensitive, and if low-cost imports from other countries are not minimized, it is likely to face challenges.

Nation’s strategic and security interests: Electronics used in aerospace, defence and other parts of strategic establishments are mostly imported. This can pose threats of design leakage or any other intrusion, which may hamper the country’s security. Hence, such goods should be indigenized as far as possible.

Recognising the opportunity, it is proposes that DeitY, STPI, Delhi University and IESA will come together to merge their strengths and competencies in making a humbler contribution to this national cause by setting-up the first ESDM incubation centre (Electropreneur Park) in the country equipped with state-of-art facilities to promote ESDM innovation, R&D and IP creation. With its vast experience & association with industry leaders, IESA, the premier trade body on Electronics & Semiconductor industry in the country, is the most suited agency to play leading role in this initiative.

Last Updated Sunday, 16 August 2015 02:49