We should target $100 billion trade export for electrical goods in 7 years: Piyush Goyal
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
- NEW DELHI — 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.
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- 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).
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- 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.
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- "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.
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- Goyal noted that the export volume of electronic goods
ranks second in the country in 2025, compared to the 167th-ranked sector in
2015.
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- In January 2025, the export volume of electronic goods
was $3 billion alone, he said.
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- The minister pointed out that the electronics goods
industry has doubled its transmission infrastructure, renewable energy capacity
and installed capacity in the last decade.
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- He further stated that the government has helped set up
1,800 Global Capability Centres (GCCs) in the country.
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- The Centre aims to develop a future-ready workforce and
promote innovation by leveraging the high number of STEM graduates produced in
the country.
