ICEA sets up task force to raise Indo-US electronics trade to $100 billion by 2033

This comes after India and the United States joined forces to drive forward transformative initiatives, following Prime Minister Narendra Modi’s state visit to the United States last month.  

 “This will give a major boost to our efforts to become a global hub for innovation and manufacturing,” said ICEA chairman Pankaj Mohindroo. The industry body represents electronics ecosystem in India, including components, subassemblies, EMS, and finished goods across various ESDM verticals such as mobile phones, consumer electronics, and IT hardware. 

The setting up of Critical and Emerging Technology (iCET) will aid in cooperation in futuristic areas such as artificial intelligence, quantum computing, space exploration, semiconductors, and defence technology, the statement added. The agreement to promote tech sharing by both governments to promote policies and adapting regulations to facilitate greater technology sharing, co-development, and co-production opportunities between U.S. and Indian industry, will have a long-term and sustained impact on India’s tech-ecosystem, the statement said. 

 “We are confident that this partnership will help usher in a new era of innovation and collaboration between India and the US. The role of lead firms of global value chains will be crucial but at the same time new jobs and opportunities for Indian businesses and startups will be created,” Mohindroo added.

Updated: 03 Jul 2023, 10:10 PM IST