Zero electronics imports by 2020 seem a distant dream, with imports still forming a large part of the Indian electronics manufacturing ecosystem. With manufacturing technology changing tirelessly, the Indian government and the ESDM industry have a lot to do to keep up with it, and to ‘make in India’ a lot more.
As we approach the end of this decade with the target of ‘zero electronics imports by 2020’ looming large, the Indian electronic systems design and manufacturing (ESDM) industry needs to do much more than it has so far if it has to come anywhere near the target. Strong domestic consumer demand due to India’s rising disposable incomes and the ongoing process of digitalisation is spurring the need to develop indigenous electronics production capacities. However, till date, almost 75 per cent of this demand is still serviced through imports (Figure 1). Consequently, the ESDM industry offers immense prospects for investors and stakeholders. However, it is important to understand the market trends, the growth drivers and challenges, to get a competitive edge in this industry.
The electronics sector has been the focus of attention for the last decade and is widely recognised as one of the driving forces in a vibrant and modern economy. ESDM is commonly referred to as a ‘meta resource’ which cuts across sectors and drives efficiency, affordability, sustainability, delivery of services and inclusive growth. There is no short term solution to this sector’s problems. It requires a 10-15 year vision and strategy to overcome its chronic weaknesses and address the factors that are holding back investments and growth.
Growth through new technologies
The electronics industry is facing unprecedented changes worldwide. Innovation and agility are leading to a competitive advantage for an organisation, irrespective of its size. The Indian electronics industry will also be following the same trend. So companies need to take greater advantage of new and emerging technologies.
This story is from the March 2019 edition of Electronics Bazaar.
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This story is from the March 2019 edition of Electronics Bazaar.
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