Work for US$100 bn export in 7 years, says Goyal
India’s electronic goods industry must work together towards more resilient supply chains, upgrade quality standards and provide high quality goods and services to the world at competitive rates, said Minister of Commerce and Industry Piyush Goyal.
Addressing the 16th Edition of ‘ELECRAMA’ on 24 Feb, Goyal urged the participants to work together to bring competitive advantages in manufacturing.
The Minister highlighted that the industry has a responsibility to care for consumers by ensuring that the consumers are provided better deals https://www.commerce.gov.in/.
He urged the industry leaders and participants in attendance to shun protectionism and focus on balancing the interests of the industry, particularly the MSME sector.
Protectionism beyond a point starts hurting the consumer. Balancing the interests of the MSME sector along with the customers should be the industry’s biggest priority, he said https://www.bseindia.com/.
Goyal noted that the export volume of electronic goods ranks second in the country in 2025, compared to 167th ranked sector in 2015. In January, 2025 export volume of electronic goods was US$3 billion alone, he said https://www.nseindia.com/.
India should become the one stop shop for electrical goods, stressed the Minister, urging industry stalwarts to aspire to reach the international trade export target of US$100 billion in the next seven years https://fieo.org/.
He pointed out that the electronics goods industry has doubled its transmission infrastructure, renewable energy capacity and installed capacity in the last decade https://sbi.com.in/.
He further stated that the Government has helped set up 1,800 Global Capability Centres (GCCs) in the country. He stated that the Government aims to develop a future ready workforce and promote innovation leveraging the high number of STEM graduates produced in the country.
Speaking on the theme of the special plenary ‘Bharat – The Vishwa Mitra’, Goyal said that India takes pride in looking at the nation as one family that wishes to work with all countries of the world in a fair, equitable and balanced partnership with each other.
“India wishes to engage with the developed world from a position of strength offering them goods and services of high quality at affordable prices,” he underlined.
The Minister asserted that the Government’s various initiatives like ‘Digital India’, ‘Make in India’, ‘Design in India’ and ‘Serve from India’ along with its efforts to make customers buy local products and enable businesses to go global will help the country’s growth https://www.makeinindia.com/home/.
“Government’s commitments to transform the economy, skill and train the workforce for high quality manufacturing and provision of services, policy certainty and speed and scale of development has led to this milestone,” he stated.
ELECRAMA is organised by the Indian Electrical and Electronics Manufacturer’s Association (IEEMA) in New Delhi. Fiinews.com
