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India has slowed down on the manufacturing front and needs
to double down on electronics manufacturing services (EMS)-designing,
manufacturing, testing components and assemblies for original equipment
manufacturers, Tata Electronics, Chairman, Banmali Agrawala said.
During a conversation with Vinay Ramesh, COO, Foundation for
Economic Development, Agrawala said India has gone 'slow' on the manufacturing
front and needed to ensure that the sector, which accounts for 13-15 per cent
of India's GDP, has a much larger share as it will create better-paying jobs.
"Our share in the global trade in manufacturing is
negligible, so there is ample room for growth. Electronics, on its own, has a
global trade worth USD 5 trillion. Given the pace of digitalisation the world
over, it is only going to grow, and this is something India should be
after," Agrawala said, adding that India's domestic consumption is not
going to be enough to be able to achieve sustained economic growth.
Agrawala further said the government should continue to work
with the sense of urgency they have shown so far and ensure that the enabling
infrastructure for manufacturing is in place.
"It's not just the quantity but also the quality of
power and water supply that matters. This makes the difference; the logistics
in terms of connectivity to airports, proximity of airports, because the
components industry moves through air. The government would do well to ensure
this enabling infrastructure is in place. A lot of this is in the domain of
state governments," he added.
"We're talking about youngsters, 50,000-70,000 people
working in a single factory or location, aged 20-25, mostly women, so we need
to ensure that the supporting ecosystem for education, healthcare and
recreation is in place."
He said that as several multinationals set up shops in India
and implement things on scale, Indian corporates should shed their conservatism
and risk aversion to seize this opportunity.
Agrawala further said the government should continue to work with the sense of urgency they have shown so far and ensure that the enabling infrastructure for manufacturing is in place
Read moreHe also said that the manufacture of mobile phones in India is just assembly with not enough value addition
Read moreThe new semiconductor company in India is expected to create more than 20,000 local job opportunities in the future.
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INDUSTRIAL PRODUCTS FINDER (IPF) is India’s only industrial product portal. Referred to as the ‘Bible’ of the manufacturing sector in India,
INDUSTRIAL PRODUCTS FINDER (IPF) is India’s only industrial product portal. Referred to as the ‘Bible’ of the manufacturing sector in India,
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