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ICEA kickstarts development in capital goods for electronics manufacturing

The India Cellular and Electronics Association (ICEA) in collaboration with the Ministry of Electronics and Information Technology, the Department for Promotion of Industry and Internal Trade and the Ministry of Heavy Industries is all set to establish a robust capital goods ecosystem in India.

India has surpassed the USD 100 billion mark in electronics manufacturing and envisions reaching USD 300 billion by 2026 and USD 450-500 billion by 2030. These are encouraging numbers, but they have also increased the demand for capital goods used for manufacturing electronics in India, which is largely import-dependent.

India imports approximately USD 10-12 billion of capital goods annually, and this is expected to increase further with the increase in electronics manufacturing in the country. Given the country’s heavy reliance on imports, it is crucial to bolster domestic capital goods manufacturing, which requires a thorough understanding of the sector, i.e., its challenges and opportunities.

Considering the criticality of the issue, ICEA kicked off a meeting with stalwarts of the Indian capital goods industry to deliberate on the modalities to develop a roadmap for strengthening the domestic industry. The meeting was attended by industry stalwarts, including Josh Foulger, President, Electronics Zetwerk; Soni Singh, Managing Director & CEO at NMTronics India Pvt. Ltd., and Dr Ashwini-K Aggarwal, Director-Government Affairs Applied Materials, marking the beginning of a collaborative endeavour.

“We need to create a manufacturing environment conducive to domestic and international players in the capital goods domain and build a skilled workforce for the sector.

This concerted effort by ICEA and the industry aims to establish a self-reliant capital goods and electronics manufacturing sector in India. We would like more industry players in the capital goods domain to share their insights and contribute to this initiative of nation-building.

Our journey to be the leading electronics and semiconductor nation cannot be complete without a robust capital goods sector,” says Pankaj Mohindroo, Chairman ICEA.

CT Bureau

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