As the nation prepares for the forthcoming government, experts within the electronics sector have emphasised the significance of continuing to prioritise innovation, youth empowerment, and entrepreneurship. According to these experts, the focus on governance, development, and performance should align with these crucial areas.
Varun Gupta, Co-Founder of Boult, has underscored the substantial impact of government support in enhancing the global competitiveness of the electronics sector. Specifically, he has cited the influence of the Production-Linked Incentive (PLI) scheme, tailored for hearables and wearables, in meeting the government’s ambitious export targets, ultimately contributing to the sector’s competitiveness in the global market.
A notable amount of Rs 12,195 crore has been allocated for the PLI scheme aimed at manufacturing telecom and networking products. Additional incentives of over Rs 4,000 crore have also been earmarked for the design-led manufacturing scheme under the existing PLI Scheme.
Madhav Sheth, CEO of HTech, has expressed optimism about the future growth and development of the industry, particularly in key areas such as artificial intelligence (AI), local manufacturing, and semiconductors. He has also anticipated a surge in local manufacturing, driven by the evolving global supply chains and the growing interest from international companies in establishing manufacturing facilities in India.
Avneet Singh Marwah, CEO of Super Plastronics Private Limited (SPPL), has highlighted the positive impact of the PLI scheme and infrastructural improvements on India’s competitive position in the global semiconductor market.
As the electronics industry continues on an upward trajectory, it is crucial for the government to maintain its focus on fostering innovation and supporting the participation of the youth in entrepreneurship. These efforts will not only contribute to the growth and success of the sector but also enhance India’s position in the global market.
It is evident that the collaboration between the government and the electronics industry is vital in advancing the country’s capabilities in the field of technology and innovation. As we anticipate the new government, it is essential for these priorities to remain at the forefront of the agenda in order to drive sustained progress and success for the industry.