‘India’s electrical equipment exports could reach $ 25 billion in 10 years’
- September 25, 2017
IEEMA (Indian Electrical & Electronics Manufacturers’ Association) applauded the vision of Government of India’s ambitious campaign Make in India at its Annual Convention, held on September 22, 2017, focused on ‘MAKE IN INDIA- Enhancing Global Footprint’.
Over the years, the Indian electrical equipment industry has developed an expanded, matured and strong manufacturing base with a robust supply chain and rugged performance design of products. The Industry has focused on modernization, automation-enhancement for meeting the international standards and specifications. Also the electrical components and systems manufactured in India are increasingly achieving the level of quality and performance that is acceptable to both developing as well as developed countries.
The Government of India has also been on the right direction by making efforts towards ‘Ease of Doing Business”. . The annual convention was inaugurated by Anant Geete, Minister for Heavy industries and Public Enterprises.
Anant Geete said, “India’s exports of electrical equipment were around $6 billion in 2016-17, but were less than 1% of the global trade in electrical equipment. With the electricity sector being a sunrise sector across the entire developing world, there exists significant potential for India to tap the export markets. India should target a 5% share of global trade in electrical equipment in the next ten years so that our exports reach a level of $25 billion.”
The Convention witnessed the presence of diplomats from countries like Brazil, Iran, Korea, Vietnam, United States and Sri Lanka. The Consul Generals unanimously stressed on working to promote bilateral trade between India and their respective countries. The implementation of the various reform measures in India has given immense opportunities to the countries of the world to come and invest in India and promote bilateral trade, technology sharing and transfer and also joint membership.
Sanjeev Sardana, President, IEEMA said, “The Prime Minister’s call for Make in India has yielded significant investments flowing into the country. This is desirable as against imports so that the country receives not only investments and latest technology but also generates employment and gives a more level playing field to the local manufacturers. We feel that the Indian industry over the last few decades has become confident and also outbound. The domestic industry is able to access overseas markets and also going out making investments in developing as well as developed countries. IEEMA is at the forefront to facilitate inbound and outbound investments and also encourage exports.”
Shreegopal Kabra, President-Elect, IEEMA is of the view: “Globally, brand India presents a huge opportunity and hence, it is imperative to promote the growth of exports of electrical equipment. Our Industry needs to move up the value chain to be able to cater to technologically superior products and value added services, with focus on research and development, innovation and competitiveness. We at IEEMA are committed to proactively engage on behalf of its membership with the government and its agencies, on issues of concern and challenges faced by the industry and also undertake activities which help in capacity building of our members. Our foremost priority is to encourage the industry to become export competitive & growth oriented, while ensuring safety across the entire value chain.”
Sunil Misra, Director General, IEEMA stated, “Indian industry is improving its image globally by taking part in international exhibitions, arranging visits of large number of foreign buyers to ELECRAMA. Our Industry also needs to focus on the emerging markets and take proactive and timely action to improve quality of products and productivity to be more competitive. The Government has been trying to improve export-related infrastructure, lowering of transaction costs and providing full refund of all indirect taxes and levies. Various initiatives have been taken to simplify and rationalize the procedural complexities in exports. Although the situation has considerably improved, Indian exporters still have time and cost issues associated with transportation, documentation and clearances of export and import cargo.”
Photo : Anant Geete, Union Minister for Heavy industries & Public Enterprises (second from left) lighting the traditional lamp while inaugurating the IEEMA Annual Convention 2017 in Mumbai, on September 22, 2017.
