Blitz Bureau
NEW DELHI: Industry leaders on July 19 said that the country must seize the opportunity to create a conducive environment for Global Value Chains (GVCs) to thrive, in order to build a large-scale and globally competitive electronics manufacturing industry. Reacting to NITI Aayog’s latest report that envisions achieving a $500 billion target in electronics manufacturing by FY2030 and creating 60 lakh jobs, the industry leaders said that true growth potential lies in the global market.
“GVCs not only drive large-scale job creation but also build technology capabilities within the domestic industry. They bring in large-scale manufacturing, driving the scale of production, reducing costs, and enhancing competitiveness,” said Pankaj Mohindroo, Chairman, India Cellular and Electronics Association (ICEA).
“As the country strives to increase its electronics production by three to four times in the next few years, integrating with GVCs will be key to boosting production and exports from India. “While we have proven our capabilities by reaching $115 billion in electronics production, the next level of growth hinges on our ability to attract and integrate with GVCs,” said Mohindroo.
