India’s Electronics Industry Is at a Crossroads—Piyush Goyal Has a Plan!

Union Commerce Minister Piyush Goyal has urged India's electrical and electronics sector to work jointly to achieve $100 billion worth of exports within the next 5-7 years. Speaking at the 16th ELECRAMA event, Goyal urged robust supply chains, quality enhancement, and competitive prices at a global level. Goyal noted that the sector's export ranking has moved up from 167th in 2015 to the second spot, with exports alone in January touching $3 billion.

The minister insisted on cooperation among stakeholders for enhancing manufacturing capabilities and balancing the concerns of MSMEs with consumer interest. Goyal also requested the industry not to resort to protectionism, which is not good for long-term competitiveness and growth.

This call to action shows India's aspiration to diversify into a world-class electronics manufacturing leader while supporting environmentally sustainable economic growth.

Source: Economic Times, Business Standard