India Technology Week Seems ESDM Industry’s Answer to Coronavirus Lockdown

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  • EFY Group is organizing India’s first online event for all the stakeholders of the ESDM industry
  • The event will enable buyers and sellers to meet online from the comfort of their home
  • New collaborations between ESDM players might help India grab the opportunity to be world’s next electronics manufacturing hub
Ramesh Chopra, Chairman, Electronics For You

Electronics For You has announced that it is organizing country’s first online event for all the stake holders of the ESDM industry. The event, to be held in two editions, will help connect buyers with sellers and vice-versa.

With ‘Social Distancing’ becoming a way of life–the prospect of organising traditional events where we get to physically meet each other–seems a bit challenging in the near future. But, the need for Buyers and Sellers to connect–remains,” stated Ramesh Chopra, Chairman, EFY Group.

He added, “Besides the risk to health and safety because of diseases like Corona, traditional events involve a lot of investments–man-power, travel, materials, physical exhibits, shipment of products and equipment, etc–all a burden on our environment. Thus, we believe an Online Only expo is to traditional events, what Google is to traditional phone directories.”

India needs to capitalise on the current situation

A lot of countries including India and USA have tightened norms on how they do business with China. Additionally, several media reports have highlighted that many companies are looking to explore manufacturing capabilities beyond China. It is quite clear that India now needs to capitalise on the opportunities, fight coronavirus and at the same time try to woo companies to shift bases in India.

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The India Technology Week, in these times, might enable Indian companies to collaborate with international players on the business and manufacturing end. It is to be noted here that business opportunities in the ESDM sector are on a slowdown following coronavirus lockdown.

Honourable PM Narendra Modi and Union Minister Ravi Shankar Prasad have time and again appealed to states to be ready to attract business and investment opportunities in India. The government has also shown intentions to set up solar products manufacturing parks in the country.

Recently announced electronics manufacturing schemes worth Rs 50,000 crores

Interestingly, EFY’s India Technology Week event comes at a time when the government of India has announced three schemes for promoting electronics manufacturing. Estimated to be worth more than Rs 50,000 crore, these schemes prove the seriousness of the government towards making India the next electronics manufacturing hub of the world.

Electronics B2B had also reported on a under-work scheme for promoting semiconductor manufacturing in the country. It is believed that India is working on a scheme that will pay half of the cost for setting up a semiconductor fab here.

“We understand that India Technology Week is a new idea. And new ideas face hiccups in the beginning. Thus, the first 100 exhibitors who will be signing up for the Trial Edition–will be taking a bigger risk of treading into uncharted territory with us. Thus, our offer to them is simple: if they don’t like what they see or experience in the Trial Edition – they can seek a full refund, and we will refund – no questions asked,” added Ramesh Chopra.

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