Indian Electronic Sector Aims To Reduce Imports By 15 Per Cent

Production ramp-up will lead to an additional investment of $15 billion in the sector with spin-offs and contribute to the national GDP  10 percent from 4 current percent as against 20 percent in China currently.

"We are committed to transform the 'Make in India' into a reality in this decade with support from central and state governments and academia. As the sector is capital intensive and has long gestation, we need to spur investments, promote international tie-ups, build a start-up ecosystem and implement policies and regulatory norms quickly," Chandak said.

Earlier, Association's president M.N. Vidyashankar, a former additional chief secretary in the Karnataka industry department, told about 1,000 delegates participating in the two-day conclave that as domestic manufacturing was the country's main focus, the industry had to evaluate the gap and promote start-ups and increase indigenous product development.

"We are inching towards building India as a manufacturing ready nation for the electronics segment, with robust infrastructure, comprising entrepreneur parks, incubation centers, component ecosystem and research and development centers," Vidyashankar added.

Chief Minister Siddaramiah inaugurated the summit and former Indian Space Research Organization chairman K. Radhakrishnan delivered the theme address on "Make in India: Vision to Reality".

As the premier trade body with about 250 members across the country, including multinational firms, the IESA promotes the Indian ESDM industry and facilitates the development of a vibrant ecosystem.

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