Electronic manufacturing services provider Dixon Technologies is aiming to grow its exports to $100 bn in next five years from current $10 bn," its Founder and Chairman Sunil Vachani said at Network 18's Rising India event. "We are expecting to reach $100 bn exports of mobile phones in 5 years. Dixon exported $10bn mobile phones last year," Vachani said.
India has huge opportunity for import substitution in electronic goods as already out of $120 bn domestic demand in the sector, $90 bn is currently made in India, he said. Design-led manufacturing and MSMEs investment is needed to establish Indian brands in the electronic sector.
"Scale is being created for design led manufacturing in electronics space. Very soon we may have Indian brands in electronics. We need MSMEs to invest in the electronic ecosystem. Design led manufacturing is necessary to make manufacturing sustainable," he said.
It is time that India looks beyond the product-linked incentive schemes and subsidies to make the manufacturing momentum stable. India has provided PLI scheme incentive to boost manufacturing in 14 sectors including electronics.
Currently, the value addition in India is 85 percent in electronic goods, but it's only 15 percent in the case of mobile phones. "It is time to make India manufacturing hub for global markets," he said.