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Make In India

Transforming India into a Manufacturing Global Superpower

In a highly competitive and turbulent global economy, India has remained resilient on its growth trajectory, growing on strong tailwinds of continuous domestic demand, deep public infrastructure investment and an expanding financial sector. Government initiatives such as Make in India, along with Digital India, and Skill India have helped the economy to remain steadfast on the path of progress and development.
While the Indian economy is progressing due to ever-growing intellectual and technological capabilities, a growing middle class bolstered by a young population, and a rise in FDI across sectors, the positive impact does not overshadow the challenges of inadequate and slow infrastructure development, a stringent and complex regulatory environment, shortage of skilled workforce, and fast-growing competitive global market. All these factors act as hurdles in carrying out the key objectives of initiatives such as Make in India to make the country the most preferred global manufacturing destination.
In recognition of how transformative growth of domestic manufacturing can be for the Indian economy, several industry stakeholders along with CEAMA have been showing their wholehearted support of the “Make in India” initiative since its launch in 2014. For instance, in 2015, CEAMA hosted the first Annual Summit, ACE Dialogues, to show their unwavering support and confidence in Make in India’s vision of turning India into a manufacturing global superpower. In 2015, CEAMA released a joint white paper with Ernest and Young that highlighted the bottlenecks and structural issues faced by the appliances and consumer electronics manufacturing sector as well as potential opportunities and solutions to boost the growth of this industry.

The consumer electronics market is estimated to reach USD 124.94 billion by 2030, expanding a CAGR of 6.8% from 2023 to 2030. The Make in India program has been providing strong momentum for growth to the industry, aiding in setting up electronic manufacturing units in the country, encouraging FDI in the manufacturing segment, and enabling foreign manufacturing units to foray into the Indian space to set up local units. While the Government has been actively contributing to creating opportunities for higher demand generation, CEAMA believes a Phased Manufacturing Plan (PMP) to set up a strong ecosystem of the indigenous MSME sector, starting from manufacturing small components to the finished products, can play a pivotal role in driving growth within consumer electronics.

Hailing the onset of a new era of mutual cooperation, a golden opportunity is knocking on our door, and it is up to us to capitalize on it and strive towards making India a superpower.