New Indo-US task force aims $100 bn electronics trade between 2 nations
By siliconindia | Thursday, 31 August 2023, 05:08:01 PM IST
The Indo-US Task Force for Electronics, launched here, aims to boost the electronics trade between the two countries to $100 billion within a decade. The India Cellular and Electronics Association (ICEA) organized the launch meeting here, attended by senior officials from the Department of Telecommunications (DoT), US Embassy, leading US and Indian companies, the investment banking fraternity, and Washington D.C.-headquartered Information Technology Industry Council (ITI). "The Indo-US Task Force for Electronics represents the fusion of two technological powerhouses.
This inaugural meeting is the first step towards a promising future where both nations led by the industry collaborate to achieve mutual growth in electronics trade and innovation,” said Ram Sewak Sharma, former TRAI chairman and Chair of the task force. India's electronics manufacturing industry is targeting $300 billion of electronics production by 2025-26. The task force’s key objectives include boosting trade, fostering innovation, creating jobs, and achieving seamless integration with the global tech ecosystem. It aims to further the strategic partnership between India and US on semiconductor advancements, advanced telecommunications, initiatives like iCET and electronics supply chain.
“Our collective vision and goals are ambitious, and we have the right minds, the right partnerships, and the right spirit to make this a reality. The next decade will be transformational for the electronics industry of both India and the US,” said Pankaj Mohindroo, Chairman, ICEA. The Indo-US Task Force for Electronics represents an unprecedented opportunity to reshape the electronics trade landscape. "The government will not shy away from providing support to the Indo-US Task Force for Electronics, and will also be there to assist. Built on the foundations of mutual friendship and partnership, this task force is bound to enhance trade collaboration between the countries", said Amitesh Kumar Sinha, Joint Secretary, MeitY.
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