India is set to experience substantial growth in hardware exports, according to the Federation of Indian Export Organisations (FIEO). Ajay Sahai, the organisation's CEO, stated that the country's increasing emphasis on manufacturing, along with a rise in global demand, positions India as a key player in the hardware export market.
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Sahai noted that government initiatives such as the Production Linked Incentive (PLI) scheme are encouraging investments in hardware manufacturing. He remarked, 'India's focus on boosting its manufacturing capabilities, particularly in electronics and other hardware sectors, has paved the way for significant export potential.' With these schemes, industries are gaining the necessary support to meet global standards and enhance their competitiveness in international markets.
India's export performance has been commendable in recent years, with electronics emerging as one of the standout sectors. Sahai explained that many companies are now recognising India as a viable alternative to traditional manufacturing hubs, further strengthening its global position. He also highlighted that India's robust infrastructure and skilled workforce have played a crucial role in attracting these opportunities.
Despite this progress, challenges remain. Sahai pointed out the need for a streamlined supply chain and consistent policy frameworks to sustain the momentum. He stressed that collaboration between the government and private sectors is vital to addressing these hurdles and ensuring the industry's sustained growth.
India's export ambitions extend beyond hardware. The country has been focusing on a diverse range of sectors, with textiles, pharmaceuticals, and machinery also showing promising growth. Sahai emphasised that diversifying export offerings is key to maintaining a balanced and resilient export economy.
In conclusion, India's potential for growth in hardware exports is significant, backed by strategic government initiatives and a favourable global landscape. However, consistent efforts to address challenges and maintain a supportive ecosystem will be critical to realising this potential.
Source: www.deccanherald.com