CII Electronics Summit 2024: Strengthening India’s Electronics Ecosystem

The 7th CII Electronics Summit brought together policymakers, industry leaders, and innovators to explore strategies for advancing India’s electronics and semiconductor manufacturing sector. Themed “Vision to Reality: Unfolding the Electronics Manufacturing Journey in India,” the summit provided a platform for insightful discussions on challenges, opportunities, and the roadmap ahead.

Investment and Opportunities – A CEO’s Perspective

The summit opened with the session “Navigating the Investment and Emerging Opportunities in the Electronics and Semiconductor Sector,” which addressed the sector’s transformative potential and investment strategies for growth.

Keynote speaker Mr. Rajeev Singh Thakur, Additional Secretary at DPIIT, emphasized the government’s proactive role in fostering an enabling environment for investments. He highlighted initiatives like the Production Linked Incentive (PLI) scheme and the simplification of regulatory frameworks as critical drivers of India’s push towards becoming a global electronics manufacturing hub.

The session explored critical themes, including investment opportunities in semiconductors and Electronic Manufacturing Services (EMS), trends driving innovation, and strategies for navigating supply chain complexities. A consensus emerged on the need for collaboration and alignment between industry and policymakers to accelerate progress.

Building a Sustainable Components Manufacturing Ecosystem

The first plenary session focused on India’s heavy reliance on imported components, with over 60% coming from abroad, and the need to establish a sustainable domestic ecosystem. Moderated by a prominent industry leader, the session explored how India can transition from assembly-dependent manufacturing to large-scale, value-added component production.

In his keynote address Mr. Ishtiyaque Ahmed, Programme Director at NITI Aayog, highlighted the importance of integrating domestic manufacturers into global value chains while emphasizing the need for policy frameworks that encourage innovation and scale. Discussions revolved around reducing dependence on imports, fostering public-private partnerships, and empowering MSMEs to play a significant role in the value chain.

The panel also discussed the long-term vision of establishing domestic design and intellectual property (IP) capabilities, which would position India as a leader in high-value electronics manufacturing.

Pioneering the Future with Auto Electronics

The second plenary session delved into the rapidly evolving auto electronics sector, with India’s market projected to grow significantly by 2032. The auto electronics market is projected to grow over USD 70 billion by 2032, with domestic demand expected to rise at a CAGR of 21.5%, reaching USD 63.7 billion. Export demand is forecasted to range from USD 6.6 billion to USD 10.7 billion, with a CAGR of 15.8% to 21.4%. Discussions highlighted the integration of advanced technologies such as artificial intelligence, sensors, and electric vehicle (EV) components in redefining the automotive landscape.

Panellists identified key priorities for India, including boosting local value addition, investing in R&D, and addressing the shortage of skilled manpower. Policy and regulatory support were also emphasized as essential for building a competitive and sustainable auto electronics ecosystem.

Investment, Startups and Emerging Technology

Investment and funding were also key themes woven into the narrative. The capital markets play a vital role in driving the sector’s expansion, but navigating this landscape requires a deep understanding of investment trends, risk management, and regulatory frameworks. Speakers at the summit emphasized the importance of creating an investor-friendly environment, where both domestic and international stakeholders feel confident in India’s growth story.

Startups, meanwhile, are shaping the future of the industry by leveraging emerging technologies. From artificial intelligence and smart manufacturing to advancements in 5G and wearable devices, these innovators are pushing boundaries and redefining possibilities. Their agility and fresh perspectives are helping to address long-standing challenges and set the foundation for a future-ready ecosystem.

A Vision Realized: Charting the Road Ahead

As the summit concluded, one message stood out: the journey from vision to reality is underway, but its success hinges on sustained efforts, innovation, and partnerships. India’s story in the electronics and semiconductor sectors is still being written, but with the right strategies and collective resolve, it is destined to become a global benchmark for excellence.