ICEA units up process drive to boost Indo-US electronics commerce to $100 billion by 2033

New Delhi: The Indian Mobile & Electronics Affiliation (ICEA) has arrange a process drive to make sure that Indo-US electronics commerce goes up from $8 billion to $ 100 billion inside a decade, stated the apex business physique in a press release.  

This comes after India and the US joined forces to drive ahead transformative initiatives, following Prime Minister Narendra Modi’s state go to to the US final month.  

 “This may give a serious increase to our efforts to turn into a world hub for innovation and manufacturing,” stated ICEA chairman Pankaj Mohindroo. The business physique represents electronics ecosystem in India, together with parts, subassemblies, EMS, and completed items throughout numerous ESDM verticals reminiscent of cellphones, shopper electronics, and IT {hardware}. 

The establishing of Important and Rising Expertise (iCET) will help in cooperation in futuristic areas reminiscent of synthetic intelligence, quantum computing, house exploration, semiconductors, and defence expertise, the assertion added. The settlement to advertise tech sharing by each governments to advertise insurance policies and adapting laws to facilitate higher expertise sharing, co-development, and co-production alternatives between U.S. and Indian business, may have a long-term and sustained affect on India’s tech-ecosystem, the assertion stated. 

 “We’re assured that this partnership will assist usher in a brand new period of innovation and collaboration between India and the US. The function of lead companies of world worth chains will likely be essential however on the identical time new jobs and alternatives for Indian companies and startups will likely be created,” Mohindroo added.

Catch all of the Expertise Information and Updates on Reside Mint. Obtain The Mint Information App to get Every day Market Updates & Reside Enterprise Information.
Extra Much less

Up to date: 03 Jul 2023, 10:10 PM IST