The CoE, which has been set up to make India self-reliant in lithium-ion powered mobile add-on products, will contribute Rs 40,000-50,000 crore to the Indian economy by 2025
With the aim to enable Indian companies to capture 30 per cent of global market share in a decade, industry body India Cellular & Electronics Association (ICEA) Monday signed a pact with the Centre for Development of Advanced Computing (CDAC), Noida for the establishment of a Centre of Excellence for Li-ion based products.
Set up in collaboration with the Ministry of Electronics & IT (MeitY) and the Uttar Pradesh government, the CoE is expected to come up with infrastructure for testing, development of SMEs and entrepreneurs, consultancy-based services for design and testing, and designing export-ready products.
The CoE, which has been set up to make India self-reliant in lithium-ion powered mobile add-on products, will contribute Rs 40,000-50,000 crore to the Indian economy by 2025, the industry body said in a statement.
In this CoE, more than 15 products, including power banks, bluetooth speakers, smart lighting systems and wearables, would be designed by the research and development team and industry participation.
“At a generic level for long term success of Indian electronics manufacturing, research, innovation, and well-equipped design centres need to be based in India. Moreover, the electronics component and design ecosystem must be built together, as one cannot exist without another.
“Currently, due to lack of design capabilities, India is losing valuable foreign exchange to international design hubs in other countries, and in turn, it perpetuates imports too,” ICEA Chairman Pankaj Mohindroo said in the statement.
“We envisage that the foundations laid by this COE will help our nation capture a 30 per cent share of the global market in a decade,” Mohindroo said.
The National Policy on Electronics 2019 (NPE 2019) has prioritised the electronics hardware manufacturing sector as one of the important pillars of both the ”Make in India” and ”Digital India” programmes of the government.
“Affirmative steps are being taken to ensure that these benefits reach the last mile. One of the steps is the proposed setting up an MSME park in Uttar Pradesh around NCR,” ICEA said.
ICEA added it estimates the total domestic consumption by 2025 to rise to USD 170-180 billion. Therefore, the balance of USD 220-230 billion will have to come from exports.