“India’s electronic market is expected to reach to $600 billion by 2026, and $1 trillion by 2028 as per revised figure submitted to the government,” IESA chairman Anil Kumar<\/a> Muniswamy told ETTelecom, adding that 147 mobile handset makers have started manufacturing operations in the country with 1 billion devices<\/a> already shipped.
The Bangaluru-based group that represents 300 companies including 70 startups said that electronic components like chipsets continue to be imported mainly from China and Taiwan.
The sector, according to Muniswamy, is currently contributing $120 billion annually.
IESA also sees fifth-generation or 5G technology as a potential opportunity for the Electronics System Design and Manufacturing (ESDM) sector.
“5G is one of the top opportunities that we have recognized. We worked closely with the government to deploy standards for the new technology,” IESA president Rajesh Ram Mishra said.
Mishra added that the group as a part of government-driven high-level committee, was able to identify potential opportunities for product design.
“There will be massive opportunity in 5G era as everything will be moving to the cloud,” the executive said, adding that 5G will play an enabling role in the electronics ecosystem.
The industry body has also said that the government should ensure Preferential Market Access (PMA) to startups which, according to it, can also look at opportunities worldwide with the government providing financial assistance.
Meanwhile, IT and Law minister Ravi Shankar Prasad<\/a> said that the government was working on electronics policy based on widest consultation, and would be released soon.
IESA, however, believes that government policies such as Make in India have started to bear fruits, and design-led manufacturing is going to be the way forward for the sector.
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