ICEA’s Task Force Aims to Transform Indo-US Electronics Trade with $100 Billion Target

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ICEA’s latest initiative to establish a dedicated task force aims to revolutionize trade relations in the electronics sector between India and the United States. With the ambitious target of increasing the current Indo-US electronics trade, which stands at $8 billion, to a substantial $100 billion within the next decade, this effort builds upon collaborative endeavors that began following Prime Minister Narendra Modi’s recent visit to the United States.

Pankaj Mohindroo, Chairman of ICEA, underscored the significance of achieving this monumental goal, emphasizing its potential to catapult India into a global hub for innovation and manufacturing within the electronics sector. ICEA, serving as the apex industry body, represents the entire electronics ecosystem in India, encompassing components, subassemblies, Electronic Manufacturing Services (EMS), and finished goods across various Electronic System Design and Manufacturing (ESDM) verticals, including mobile phones, consumer electronics, and IT hardware.

An integral element of this initiative is the establishment of the Critical and Emerging Technology (iCET), which will foster collaboration in cutting-edge domains such as artificial intelligence, quantum computing, space exploration, semiconductors, and defense technology.

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Furthermore, the Indo-US partnership encompasses policy and regulatory adaptations geared towards promoting greater technology sharing, co-development, and co-production opportunities between the two countries’ industries.

These policy adjustments are anticipated to have a profound and lasting impact on India’s technology ecosystem, creating an environment conducive to innovation and collaboration. Mohindroo also highlighted the partnership’s potential to usher in a new era of innovation and collaboration between India and the US. While lead firms in global value chains will play a pivotal role, the partnership is also expected to generate new job opportunities and avenues for Indian businesses and startups, thereby contributing to economic growth and technological advancement.

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