Synopsis
Union Minister Piyush Goyal announced that India aims to become a one-stop shop for electrical goods, targeting $100 billion in exports within seven years, emphasizing collaboration, consumer care, and the importance of the MSME sector.Key Takeaways
- India targets $100 billion in electrical goods exports.
- Collaboration is key for resilient supply chains.
- Focus on quality standards and competitive pricing.
- MSME interests must be balanced with consumer needs.
- Government supports setting up Global Capability Centres.
New Delhi, Feb 24 (NationPress) India should evolve into a comprehensive marketplace for electrical goods and set a goal of achieving an international trade export milestone of $100 billion within seven years, stated Piyush Goyal, Union Minister of Commerce and Industry, on Monday.
The Indian electronics sector must collaborate to establish more resilient supply chains, enhance quality standards, and deliver premium goods and services to the global market at competitive prices, Goyal emphasized during the 16th Edition of ‘ELECRAMA 2025’ held by the Indian Electrical And Electronics Manufacturers Association (IEEMA).
The minister pointed out that the industry has a duty to look after consumers by ensuring they receive better offers. He called on industry leaders and attendees to reject protectionist measures and prioritize a balance between the industry's interests, especially concerning the MSME sector.
"Protectionism, when taken too far, begins to harm the consumer. Prioritizing a balance between the MSME sector and customer interests should be the industry's foremost concern," he remarked.
Goyal noted that, in 2025, the export volume of electronic goods will rank second in the nation, a significant leap from being the 167th-ranked sector in 2015.
In January 2025, the export volume for electronic goods alone reached $3 billion, he revealed.
The minister highlighted that the electronics goods sector has seen a doubling of its transmission infrastructure, renewable energy capacity, and installed capacity over the past decade.
Additionally, he stated that the government has facilitated the establishment of 1,800 Global Capability Centres (GCCs) within the country.
The Centre aims to cultivate a future-ready workforce and encourage innovation by taking advantage of the substantial number of STEM graduates produced in the country.
Reflecting on the special plenary theme ‘Bharat - The Vishwa Mitra’, Goyal expressed that India takes pride in viewing itself as one family aiming to collaborate with all nations in a fair, equitable, and balanced manner.
India seeks to engage with the developed world from a position of strength, providing them with high-quality goods and services at reasonable prices.
