Latest news with #ICEA
Hans India
4 days ago
- Business
- Hans India
ICEA, IT Ministry urge states to make India a component manufacturing hub
New Delhi: States should work together and leverage Centre's scheme for encouraging domestic manufacturing of electronic components to make India a global hub of components manufacturing, the India Cellular and Electronics Association (ICEA) said on Friday. Various states such as Tamil Nadu, Assam, Uttar Pradesh and Andhra Pradesh are coming up with their own policy for encouraging components manufacturing in their respective states. In an industry event in Andhra Pradesh, Sushil Pal, Joint Secretary, MeitY, emphasised the government's commitment to fostering domestic electronics manufacturing through a hybrid scheme which offers Capex support and turnover linked incentive for components manufacturing. He appealed that states have to play a proactive role in this mission of making India a component manufacturing powerhouse for the world. Bhaskar Katamneni, Secretary, IT & EC, state government, unveiled the draft Electronics Component Manufacturing Policy (ECMP) at the event to encourage manufacturing of electronics components in the state. 'We are not only promoting ease of doing business but also enabling the 'Speed of Doing Business'. Andhra Pradesh is crafting a more competitive and agile policy framework compared to the national landscape,' said Katamneni. He said that the Andhra Pradesh-ECMP will be notified in the next 10 days. Additionally, he also discussed on the draft policy and its offerings, like catalysing investments across the component manufacturing value chain through 50 per cent capex support for components manufacturers in the state, turnover linked incentives doubling the centre's incentives, building specialised infrastructure and plug-and-play clusters, and enabling talent development, skilling and R&D support. Pankaj Mohindroo, Chairman, ICEA said that now is the time that industry should proactively resolve for high domestic value addition in the country and build a robust supply chain for electronics manufacturing. The event was attended by senior government officials from Ministry of electronics and IT and the state, along with manufacturers, industry leaders and other stakeholders of electronics ecosystem.
Time of India
7 days ago
- Business
- Time of India
ICEA launches technology access platform for manufacturers, partners VC firm Caret Capital
NEW DELHI: The India Cellular and Electronics Association ( ICEA ) on Tuesday launched the ' Venture Access Labs ' in partnership with Venture Capital (VC) fund Caret Capital , to facilitate technology access between startups and India's electronics and manufacturing companies. The association, in a joint statement, said that the platform would significantly provide the Indian manufacturing industry a competitive edge and connect manufacturers with startups innovating in the domains of advanced manufacturing, artificial intelligence (AI), the Internet of Things (IoT), energy efficiency, materials science, and more. It will also cover several functions, including procurement, planning, manufacturing, supply chain, finance, HR, legal and ESG (environmental, social, and governance). 'The research and development (R&D) spending of Indian companies has been really low, even lower than the average R&D spend of other countries. If Indian companies aspire to create world-leading products, they need to significantly invest. But the financial gap is too huge for them to cover on their own, and that is where we are trying to help with our latest initiative,' Salil Kapoor, co-founder and chief mentor of Venture Access Labs (VAL), told ETTelecom. According to him, manufacturers in India can partner with domestic and international innovators to pool investment into technologies, which is expected to ease the financial strain on startups and MSMEs, and drive the overall R&D spending in the ecosystem. ICEA will create an 'innovation directory' containing information about startups, technology innovators, disruptors, and incubators, along with their domain and use case expertise, and the real-life problems they are attempting to solve. The platform will enable one-to-one connection. VAL expects to facilitate up to three cohorts of startups in various domains every year. The collaboration with the VC fund, which supports early-stage startups, will ensure India's manufacturing industry has access to a vetted pipeline of global startups and emerging technologies that are strategically aligned with the specific business needs of industry, ICEA said. 'By opening the door to international technological advancements and building an innovation pipeline, we aim to accelerate India's electronics manufacturing capabilities and global competitiveness so as to capture a larger global market share,' said Pankaj Mohindroo, chairman, ICEA. 'The Venture Access Labs platform stands as a strategic catalyst in this transformation, empowering Indian industry to sharpen its global edge through innovation. VAL offers a unique platform for enterprises to discover, pilot, and scale breakthrough technologies that can redefine the future of manufacturing in India,' said Prajakt Raut, co-founder and managing partner at Caret Capital.
Time of India
09-05-2025
- Business
- Time of India
Trade pact with UK to boost India's electronics exports: ICEA
NEW DELHI: The recently signed UK-India free-trade agreement (FTA) will boost the opportunities for homegrown electronics industry to have a major share in the UK's electronics imports, the India Cellular and Electronics Association ( ICEA ) said on Friday. 'Today, the UK imports $76 billion of electronics goods from various geographies and a mere $2 billion from India. This FTA will facilitate export opportunities for Indian electronics industry to have a major share of the UK's electronics imports, helping India move swiftly towards its electronics export target of $180–200 billion by 2031,' Pankaj Mohindroo, chairman of ICEA, said in a statement. The pact, signed on May 6, 2025, between the two major economies, will positively impact manufacturing across labour and technology-intensive sectors and will open up export opportunities for sectors such as auto parts, organic chemicals, goods and toys, smartphones, and optical fibre cables, among others. 'This will substantially improve Indian goods competitiveness in the UK vis-a-vis other countries,' the Central government said in a statement recently. The ICEA, in turn, said that the FTA will shape the future of the Indian electronics manufacturing sector and partnerships with global value chains (GVCs). The agreement is set to double bilateral trade from $60 billion to $120 billion by 2030, with India's exports gaining unprecedented market access in the UK, according to the industry association. The agreement eliminates tariffs on 99% of Indian exports, expanding special access to domestically manufactured electronics, engineering goods, auto components, IT services, and more. 'The FTA eases the employment opportunities for Indian professionals, including contractual service suppliers, business visitors, intra-corporate transferees and dependent children of intra-corporate transferees with right to work,' ICEA said.
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Business Standard
01-05-2025
- Automotive
- Business Standard
PLI scheme: Meity, industry bodies plan roadshows to woo electronics firms
The countries identified for this roadshow include South Korea, Japan, Taiwan, and the United States, the geographies in which big companies manufacturing electronic components are based Premium Listen to This Article The Ministry of Electronics and Information and Technology, together with industry stakeholders like the Indian Cellular and Electronics Association (ICEA), is finalising a plan for global roadshows to reach out to potential investors and companies to sell and participate in the ₹22,919 crore production-linked incentive (PLI) scheme for electronic components. The countries identified for the roadshows include South Korea, Japan, Taiwan, and the United States, the geographies in which big companies manufacturing electronic components are based. Top officials in the ministry as well as representatives of industry bodies will be part of the delegation. The scheme was announced recently and
