India Electronics and Semiconductor Association (IESA), the trade body, representing the Indian Electronic System Design and Manufacturing (ESDM), today commenced IESA Vision Summit 2016, its annual industry leadership conclave, with a commitment to evolve the ESDM industry into a $400B ‘Make in India’ opportunity.
The Summit theme “Indian Semiconductor & ESDM Ecosystem: Scaling up for $400B Make in India Opportunity” recognises the need to elevate focus on the immediate opportunities in the indigenous ESDM landscape.
The proceedings were presided over by Dr. Ajay Kumar, Additional Secretary, DeitY, Govt. of India along with Dr. Omkar Rai, Director General, STPI, Govt. of India and Shri RK Misra, Founder Director, Centre for Smart Cities.
During his speech, Dr. Ajay Kumar, Additional Secretary, DeitY. Govt of India, said, “There were 159 ESDM production units established in India last year and the technology sector is expected to be $1 Tn opportunity in India in the next 5-7 years – $400 Bn of hardware, $350 Bn of Software and $250 Bn of Telecom and IoT. The tech sector could potentially contribute 25% of India’s GDP.”
“There is a huge opportunity for innovation with Local languages. We cannot scale any technology products and solutions if the devices and services are not talking to 1.25 Bn people in their local languages. Govt. has released a draft policy for supporting local languages and making machine-translation into local languages a reality in India,” he added.
Also commenting on the occasion, Dr. Ajay Kumar added, “We have seen 50 mobile manufacturing units setup in the last 10 months, 20,000 jobs have been created and 9 mn mobile phones per month capacity built in India. Electronic Development Fund and Innovation Fund are two different funds to help accelerate electronics manufacturing and innovations in the country and both are operational. EDF is managed by Canara Bank Venture Fund, while IF is managed by SIDBI. The government has allowed 100% FDI in Medical Electronics, 49% FDI in defence (higher on a case-to-case basis) to bring momentum in indigenous electronics manufacturing.”