Manufacturing has become one of the high growth sectors in India, thanks to the ‘Make in India’ program that places India on the world map as a hi-tech manufacturing hub. It is fast emerging as the most attractive destinations for investments in the manufacturing sector giving it a global recognition. India is expected to become the fifth largest manufacturing country in the world by the end of year 2020 as global giants have either set-up or in the process of setting up manufacturing plants in India, attracted by its more than a billion consumers, domestic demand for electronic goods and rising disposable income levels.
In the pursuit of becoming a $5 trillion economy by 2024, the contribution of the manufacturing sector is expected to take a quantum jump generating strong employment growth in the process, a key agenda for the government. Towards the vision of holistic development of the nation, focus on industrial corridors and smart cities would continue to pave the way to provide a healthy environment for manufacturing. Energy supply and infrastructure are still underutilized towards building a world-class manufacturing sector leaving enormous room for growth. The National Institution for Transforming India (NITI Aayog) aims to persuade the Government for support in the manufacturing sectors with large-scale employment generation opportunities, such as electrical and electronics engineering, footwear and light manufacturing segments, which also have export potential. The Ministry of Heavy Industries and Public Enterprises, in partnership with industry associations, has announced the creation of a start-up centre and a technology fund for the capital goods sector to provide technical, business and financial resources and services to start-ups in the field of manufacturing and services. Government of India has planned to invest in semi-conductor plants in order to facilitate electronics manufacturing in the country.
ELECRAMA 2020 offers the ideal platform for deliberation with the industry leaders through knowledge sharing and networking by way of one to one meetings, conferences and seminars. These will create opportunities for the Indian manufacturers to step up the pedal and grab world market share and establish themselves in the global scenario.