New Delhi: Government of India’s flagship initiative for job creation and skill enhancement, ‘Make in India’ will create 10 crore new jobs by 2020, said NITI Aayog Director General-DMEO and Adviser, Anil Srivastava.
“We are in the midst of fourth technological revolution where there is lot of integration of technology that is taking place. With Make in India, we are targeting on generating 10 core new jobs by 2020,” said Srivastava in an event in New Delhi.
In the last couple of years the Government through various initiatives such as Make in India, and Start up India has been looking to increase investment opportunities in the country.
Lending its support to the cause, Konnect Worldwide Business Media organized an event smarttech Manufacturing and Electronics India Congress 2017 in New Delhi.
The government has a target to make India Net Zero Imports by 2020 and is implementing several initiatives to promote electronics manufacturing as well.
This event brought all the stakeholders in the Manufacturing and Electronics ecosystem to discuss on the challenges and opportunities that will enable the country to achieve this target.
“In our champion category mobile phones India contributes about 3.9 percent of the value of the world and about 13.8 percent in terms of volume of the world. Due to the volumes, we get a sense that we are a big market but that is not the case so,” said National President, Indian Cellular Association, Pankaj Mohindroo.
“We will be a significant value market and become worth USD 70-80 billion in the coming five to seven years,” Mohindroo added.
As a result of the Government efforts, in the last two years 107 new manufacturing units have been established and plenty more are in the offering.
During the course of the conference, the panelist lauded the government for laying the regulation groundwork and providing necessary support from time to time. The need of the hour however is that India goes beyond assembly units and get into component manufacturing.
“We believe conclaves such as smarttech India Congress offers a great platform for players across the smart technology domain in India to exchange ideas and work together towards a better, mutually beneficial ecosystem. In terms of manufacturing, we keep comparing how India fares against China, but in reality we can have a better ecosystem, given the kind of resources we have,” said country head corporate sales international, MediaTek, Kuldeep Malik.