MeitY optimistic of private sector’s financial and employment support in skilling
The electronics industry is on a “runway to US$300 billion (a year) market” and the Government stands aligned with the manufacturers to reach the goal, Rajeev Chandrasekhar, Minister of State, Electronics and Information Technology & Skill Development and Entrepreneurship.
“We are at the inflection point in terms of opportunities that lie in front of us and this is indeed the best of times for India,” he told the 4th CII Global Electronics Summit (organised virtually).
Commenting on the recent developments, he pointed out that the last two years have demonstrated India’s resilience in spearheading vaccination and extending timely stimulus support and thereby demonstrating that India has showcased the ability to think of the future while taking cues from the past.
MeitY’s approach of broadening and deepening the electronics ecosystem will be pivotal in achieving the same, said Chandrasekhar while addressing a few concerns raised by the stakeholders.
The Minister said that forging collaborative R&D is the way for the future and MeitY, through its various institutions, remains keen on collaborating.
“Towards this, Government capabilities need to get complemented by those of industry’s including start-ups.” He added that this is an opportune time where industry and Government’s intentions stay aligned.
Sharing his views about India’s opportunity in capitalising global refurbishment market, Chandrasekhar said that some issues need to be worked out but emphasised that if seized, this can bode well in creating huge employment.
India, he said, already has a successful model on skilling and the Ministry for Skill Development and Entrepreneurship will soon be announcing 3-4 pilot projects directed at promoting skilling. MeitY is also optimistic about private sector’s financial and employment support in skilling.
In order to encourage manufacturing of products not made in India currently, the Minister highlighted that works is being done on tariffs and duties.
Chandrajit Banerjee, Director General, Confederation of Indian Industry (CII), added that MeitY’s approach of broadening and deepening the value chain to move from assembling to manufacturing is the need of the hour.
He noted the Minister’s strong emphasis on promoting design-led manufacturing and developing a domestic component ecosystem which will go a long way in serving the cause of making India self-reliant.
“While our world has changed irreversibly in the last three years, the Indian Electronics Industry came together and has been unanimous in seeing today as an immense opportunity,” said Vinod Sharma, Chairman – CII National Committee on ICTE Manufacturing and Managing Director – Deki Electronics.
He welcomed the Minister’s call to the industry to lead this transformation to becoming a design-led and deeply engaged value chain driven manufacturer. #manufacturing #technology #investment /fiinews.com
