New Delhi, Feb 24: India should become a one-stop-shop for electrical goods, and aspire to reach the international trade export target of $100 billion in seven years, Union Minister of Commerce and Industry, Piyush Goyal, said on Monday.
India’s electronic goods industry must work together towards more resilient supply chains, upgrade quality standards and provide high-quality goods and services to the world at competitive rates, Goyal said at the 16th Edition of ‘ELECRAMA 2025’ event organised by the Indian Electrical And Electronics Manufacturers Association (IEEMA).
The minister highlighted that the industry has a responsibility to care for consumers by ensuring that the consumers are provided better deals. He urged the industry leaders and participants in attendance to shun protectionism and focus on balancing the interests of the industry, particularly the MSME sector.
“Protectionism beyond a point starts hurting the consumer. Balancing the interests of the MSME sector along with the customers should be the industry’s biggest priority,” he said. Goyal noted that the export volume of electronic goods ranks second in the country in 2025, compared to the 167th-ranked sector in 2015.
In January 2025, the export volume of electronic goods was $3 billion alone, he said. The minister pointed out that the electronics goods industry has doubled its transmission infrastructure, renewable energy capacity and installed capacity in the last decade. He further stated that the government has helped set up 1,800 Global Capability Centres (GCCs) in the country.
The Centre aims to develop a future-ready workforce and promote innovation by leveraging the high number of STEM graduates produced in the country. Dwelling on the theme of the special plenary ‘Bharat – The Vishwa Mitra’, Goyal said India takes pride in looking at the nation as one family that wishes to work with all countries of the world in a fair, equitable and balanced partnership with each other. India wishes to engage with the developed world from a position of strength offering them goods and services of high quality at affordable prices.
IANS