IoT To Drive Semicon Sector: IESA Chairman
The domestic consumer electronics and durables sector has been growing substantially since a few years already. With the government boost to “Make in India”, 2016 should see increased manufacturing of the consumer durables serving local and export markets, according to Vinay Shenoy, Chairman, India Electronics & Semiconductor Association (IESA), the premier trade body representing the Indian Electronic System Design and Manufacturing (ESDM) industry.
Shenoy shares outlook on technology trends for 2016, as well as other developments across key vertical industries.
ESDM industry trends
Shenoy said, on innovation, Internet of Things (IoT) will generate significant attention and action. Startups will thrive, primarily on IoT.Defence electronics will generate increasing interest amongst Indian companies and some of whom will enter into joint venture for technology licensing. Indian companies will look for international joint ventures for technology access, he said.
Electronics manufacturing will increase initially larger multinationals and later mid-sized enterprises from Japan, Taiwan, Korea, Europe and US, will setup up local manufacturing. Companies will announce large investments in R&D and manufacturing for Defence to participate in the large opportunity, said Shenoy
According to Shenoy, high volume electronics such as consumer durables and mobile phones manufacturing is likely to begin earlier, others will follow and depend on electronic contract manufacturing ecosystem.
While, the overall scenario is optimistic, electronic manufacturing clusters need to develop and mature in various parts of the country offering choice for companies looking to invest in manufacturing. “The various government policies and incentives should be implemented in letter and spirit swiftly. Moreover, ease of doing business across various states needs to improve,” he said.
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