Internet of Things will drive India’s ESDM sector in 2016: IESA
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, said Vinay Shenoy, chairman, India Electronics & Semiconductor Association (IESA).
He shares outlook on technology trends for 2016.
ESDM sector in 2016
- 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.
- 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.
Verticals to see maximum traction
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.
Challenges that need to be addressed in 2016
- 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
- Ease of doing business across various states needs to improve
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