Gathering at CII Electronics Summit 2024: Consolidating India's Electronics Industry Infrastructure
The future of the auto electronics industry is being shaped by startups and emerging technologies, with India playing a significant role in this transformation. The 7th CII Electronics Summit, held recently, provided a platform for insightful discussions on challenges, opportunities, and the roadmap ahead in the electronics manufacturing sector.
Government Initiatives Paving the Way
The Production Linked Incentive (PLI) scheme and the simplification of regulatory frameworks were highlighted as critical drivers of India's push towards becoming a global electronics manufacturing hub. The government's role in fostering an enabling environment for investments in the electronics and semiconductor sector was emphasized by Mr. Rajeev Singh Thakur, Additional Secretary at DPIIT.
Global Giants Investing in India
At the summit, companies such as Intel, Samsung, and Micron announced their commitment to promote electronic and semiconductor manufacturing in India. Plans include significant investments in fabrication plants, R&D centers, and fostering local supply chains to boost the semiconductor ecosystem. Measures such as building new fabs, enhancing semiconductor design capabilities, and creating job opportunities in the electronics sector were discussed.
The Need for a Sustainable Domestic Ecosystem
The first plenary session focused on India's heavy reliance on imported components and the need to establish a sustainable domestic ecosystem. The long-term vision of establishing domestic design and intellectual property (IP) capabilities in India was also discussed. Reducing dependence on imports, fostering public-private partnerships, and empowering MSMEs to play a significant role in the value chain were key priorities.
The Growing Auto Electronics Market
The auto electronics market is projected to reach over USD 70 billion by 2032, with domestic demand expected to rise at a CAGR of 21.5%. Export demand for auto electronics is forecasted to range from USD 6.6 billion to USD 10.7 billion, with a CAGR of 15.8% to 21.4%.
Integrating Advanced Technologies
The auto electronics sector is integrating advanced technologies such as artificial intelligence, sensors, and electric vehicle (EV) components to redefine the automotive landscape. The sector's growth is destined to become a global benchmark for excellence with the right strategies and collective resolve. However, the success of India's journey in the electronics and semiconductor sectors hinges on sustained efforts, innovation, and partnerships.
Addressing Challenges and Opportunities
The summit explored critical themes, including investment opportunities in semiconductors and Electronic Manufacturing Services (EMS), trends driving innovation, and strategies for navigating supply chain complexities. The second plenary session focused on the auto electronics sector, with India's market projected to grow significantly by 2032.
Mr. Ishtiyaque Ahmed, Programme Director at NITI Aayog, emphasized the importance of integrating domestic manufacturers into global value chains and encouraging policy frameworks that foster innovation and scale. The summit closed with a session titled "Navigating the Investment and Emerging Opportunities in the Electronics and Semiconductor Sector."
In conclusion, the 7th CII Electronics Summit focused on strategies for advancing India's electronics and semiconductor manufacturing sector. With the right investments, policies, and partnerships, India is poised to become a global leader in this rapidly evolving industry.
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