ICEA and RAMA Sign Memorandum of Understanding

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The MoU will facilitate and strengthen the exchange of information and ideas in the development of refrigeration and air conditioning technology in India

The Refrigeration and Air-conditioning Manufacturers Association (RAMA) has entered into a Memorandum of Understanding (MoU) with the India Cellular & Electronics Association (ICEA).

The objective of this MoU is to promote cooperation between ICEA and RAMA,with a view to demonstrate their irrefutable support towards nation building and strengthening of the economy while creating opportunities for growth and development of their respective industry players, all with the larger objective of promoting industrial development and the end-consumer market.

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“It is a historic collaboration between the two industry bodies to strengthen the mutual relationship with a broader common aim and object of nation-building. The MoU will endeavor to provide us with respective members/industry players an opportunity to discuss, negotiate, and forge alliances or collaborations with each other, which will serve as a step in an increase of exports, providing competitive opportunities, and
boosting the domestic sector amongst others. It has always remained our sincere
desire to see a closer and more collaborative partnership approach between industry stakeholders in various aspects of the electronics ecosystem,” noted Pankaj Mohindroo, Chairman, ICEA.

The MoU will also facilitate and strengthen the exchange of information and ideas in the development of refrigeration and air conditioning technology in India and the manufacturing ecosystem around it, and to augment India’s place as an exporter and world leader in this space, moving towards the Government of India’s goals of Atmanirbhar Bharat and Make in India, Make for the World.

The two associations believe that we as a nation will reach an inflection point soon, where volumes will climb substantially. Indeed, it is the belief of both the associations that India should attempt a domestic market sale of 15 million units (Rs 37.5 – 40,000 crores) and export market of 35 million units (Rs. 75-80,000 crores) by 2025. Total revenue by 2025 will be Rs. 110,000 crores. This quantum jump in production will benefit the nation enormously.

“I envisage this non-financial collaboration to go from strength to strength in order achieve the larger good at the structural & policy level. We must capitalise on our strengths to fuel the growth for of our industries, both in domestic as well as in international markets. RAMA – ICEA MoU will significantly strengthen the flagship programs of both the industry bodies. It will further enable the two sides to exchange information and ideas to increase competitive opportunities and space for collaboration. This will give an opportunity to the supply chains of both industries to collaborate and grow”, said Kanwal Jeet Jawa, President, RAMA.

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