New Delhi, Oct 9 (SocialNews.XYZ) Integrating global value chains (GVCs) into India at scale will help boost the Indo-US electronics trade to $100 billion within the next decade, the government said on Wednesday.
The Indo-US Task Force for Electronics, established by the India Cellular and Electronics Association (ICEA) last year aims to integrate the capabilities of Indian and American companies to foster innovation, drive trade and create substantial employment opportunities.
In a second Roundtable of the Indo-US Task Force for Electronics in the national capital, more than 40 industry leaders from Indian and US companies, along with key government officials, discussed the future roadmap.
S Krishnan, Secretary, MeitY, said that electronics is poised to become the largest single manufacturing sector globally, and India must claim a substantial share.
“Not only to secure a resilient supply chain but also to be an integral part of global value chains. We want to build these supply chains on mutual trust, and our partnership with the U.S. is critical in achieving this,” Krishnan told the gathering.
The Indo-US Task Force for Electronics is chaired by Dr RS Sharma, Chairperson of ONDC and former chairman of TRAI.
“The shift in global dynamics provides a strategic opportunity for both India and the US electronics is a promising sector where we can deepen our relationship. Together, we can overcome regulatory and policy hurdles, integrate our industries, and build resilient supply chains,” said Dr Sharma.
According to Pankaj Mohindroo, Chairman, ICEA, electronics is inherently a global industry, with 95 per cent of it driven by GVCs.
“India is rapidly building the capability to be a significant player in this ecosystem. Our growing partnership with the United States, combined with India’s efforts in emerging sectors like electronics and solar, will help reinforce our position as a trusted global partner,” said Mohindroo.
He further added that “the Indo-US partnership is not just about numbers; it’s about creating a resilient and future-ready supply chain that benefits both countries.”
American firms have been instrumental in transforming India into a global hub for electronics manufacturing.
“Our smartphone exports stand testament to this success. With strategic partnerships and a commitment to policy continuity, India is prepared to tackle challenges and seize opportunities,” Krishnan said.
Source: IANS
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