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In a bid to accelerate the 'Make in India' vision outlined by the government, the India Electronics and Semiconductor Association (IESA) is looking to move away from low-value manufacturing to high-end manufacturing and creation of Intellectual Property (IP) as the way of the future.
Addressing reporters at the annual IESA conference, its Chairman, Ashok Chandak, told BusinessLine that there is a need to move into more high-value manufacturing as that is an area where India can differentiate from other manufacturing countries.
The conference also saw Dassault Systemes, Bosch and Tejas Networks, who committed to investments worth Rs 1,700 crore as a part of their 'Make in India' initiatives.
Industry watchers opine that India is increasingly being looked at as a destination for design-led manufacturing.
M N Vidyashankar, Chairman, IESA, also emphasised that there is as a need to create an ecosystem which should go beyond physical infrastructure.
“Start-ups need to be encouraged to set shop and the government with its support can help them to grow their business and in the process create employment,” he said.
About 30 Electronic System Design Manufacturing (ESDM) start-ups in the field of medical electronics, energy management and smart cities will be making their pitches to VCs such as Hemant Kanakia of Kanakaia Ventures and Professor S Sadagopan of IIIT Bangalore.
The Indian ESDM market is expected to grow from $9 billion in 2010 to $94.2 billion by the end of this year, according to analysts.
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