The India Electronics & Semiconductor Association (IESA) is working toward making India an electronics manufacturing hub by 2030 and has outlined a road map to achieve this goal. IESA envisions supporting fifty startups in each of India’s states, creating 1,000+ startups and one million jobs.
The industry body will also set up components banks to help startups in getting the components they require for new product development in time and at a reasonable cost. The startups will drive innovation in areas such as Industry 4.0, connected mobility, smart cities, healthcare, 5G, and agritech, among others, creating an impact in the strategic growth of India.
IESA will forge partnerships with the federal and state governments as well as with academia to implement initiatives such as state-level Electronics System Design and Manufacturing policies, electronic parks for entrepreneurs, sector-specific centers of excellence, and startup exchange networks, to create a business of $16 billion in the next five to seven years.
Dr. Satya Gupta, member, Executive Council, IESA, says,”India has already started doing significant electronics manufacturing in traditional electronic products, such as smartphones, set top boxes, white goods, and accessories. Innovative products through these startups will invigorate innovation and design-led manufacturing. This will help the Indian electronics manufacturing ecosystem to move toward high value-add manufacturing.”
Gupta added that global product companies were setting up large captive manufacturing facilities to serve the demand in India, and for export, and he projected that in the next decade India will reach the 2nd spot in electronics manufacturing.
