Commerce Secretary calls for predictable policy to achieve $150 billion electronics exports
New Delhi, July 11 (IANS) Commerce Secretary Rajesh Agrawal has said that India’s policy framework must provide the predictability and stability required for global value chains to expand their presence in the country.
The global electronics industry is increasingly driven by these value chains, he said at Chintan Shivir organised here by the Department of Commerce, to develop policy recommendations for strengthening India’s electronics manufacturing and export competitiveness.
He observed that policy approaches for production aimed at the domestic market may differ from those needed to promote export-oriented manufacturing.
He further stated that the Chintan Shivir had been convened to facilitate constructive dialogue and develop tangible, balanced, equitable and actionable policy recommendations while strengthening India’s position as a globally competitive electronics manufacturing and export hub.
The event brought together senior government officials, industry leaders, policy experts and stakeholders to deliberate on “India’s evolving electronics manufacturing landscape and strategies to strengthen the country’s global competitiveness.”
The Chintan Shivir featured presentations on India’s roadmap to achieving $150 billion in electronics exports by 2030 and on strengthening the country’s semiconductor and electronics components ecosystem.
Presentations outlined sector opportunities across smartphones, servers, specialty electronics and components. The sessions laid the foundation for detailed deliberations on policy priorities required to accelerate long-term growth and enhance export competitiveness.
Participants emphasised the importance of integrating MSMEs into global value chains, which account for nearly 90 per cent of global electronics trade, to enable them to scale as suppliers to large manufacturers.
Deliberations also focused on harmonisation of HS Codes and closer coordination with Customs authorities to minimise product misclassification and facilitate smoother exports.
Focused marketing efforts to build the visibility and acceptance of Indian products in strategic overseas markets is necessary to sustain export momentum, according to Special Secretary, Department of Commerce, Suchindra Misra.
Misra noted that the Indian Institute of Foreign Trade is developing training programmes for exporters, making industry feedback invaluable in refining the curriculum to strengthen understanding of trade agreements, market access opportunities and evolving demand patterns across global markets.
—IANS
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