Summary:

According to Union Minister Piyush Goyal, India’s electronics and electrical sector aims to increase exports to Rs. 8,68,700 crore (US$ 100 billion) over the next 5-7 years. Exports have risen from 167th globally in 2015 to India’s second-largest category. Exports in January 2024 totaled Rs. 26,061 crore. He emphasized the need for strong supply chains and competitive pricing.

He urged industry leaders to collaborate to enhance India’s manufacturing sector and provide greater value to customers. He stressed the importance of moving beyond protectionism, warning that excessive trade restrictions harm consumers. He advocated for a balanced strategy that supports both MSMEs and consumers while encouraging long-term, competitive growth.

Source: IBEF

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