Industry reactions on big BJP and NDA win in India
India Electronics and Semiconductor Association (IESA) has welcomed the forthcoming government and extends its full support to their vision of Development, Growth and e-Governance, making India a manufacturing and innovation centre for domestic and global players in the electronics industry.
Anil Chaudhry, country president and managing director, Schneider Electric India said: "Schneider Electric India is committed to all efforts to transform India into a self-sufficient, energy-surplus nation. We hope to partner with the country in developing smart cities as well as boosting the renewable energy segment, in particular. We look forward to policies that will bolster infrastructure development in India, acting as an engine of growth, creating thousands of new jobs and pushing up GDP growth, while lowering poverty levels and bringing alive our collective dream of inclusive growth."
Rajat Jain, MD, Xerox India says: "Election this year has been unprecedented and people have given their mandate for a strong and stable government. Corporate India is looking forward to a decisive government that can fast forward the process of reforms. These reforms are to do with simplifying the processes in doing business in India- easing fiscal situation and tax issues, FDI in multiple sectors, more banking licences and creating an ecosystem that makes India an investment friendly destination as well as create more jobs for the youth. The present vibes and signals look positive with stock markets at an all-time high, Rupee appreciation and the sentiment of business community which is optimistic as the new government seems to be steering in the right direction and already has a clear agenda in place. In total, we all look forward towards a scam free, corruption free socio-economic and political environment that promotes businesses and makes India a developed super power by 2020."
S. Rajendran, chief marketing officer, Acer India: "The new government needs to deliver a lot on expectations. Most importantly, the government must ensure that growth rate is back on track, touching a figure of 7 - 8 percent. Right time-bound decisions need to be taken to reignite economic growth. And it should usher in an environment of ‘making it easy to do business in India' to both domestic and international players.
"We envisage encouragement to the industry and focus on building fab units and electronic manufacturing clusters with an investment potential of over 75,000 crores in short term and cumulatively employing 2.8 crore people by building local eco system within the next 10 years", said Ashok Chandak, chairman, IESA.
The National Policy on Electronics was the first step in the right direction. Moving forward, it has to be strengthened with, inter alia, setting up of Electronic Commission and implementation of policy measures to enable the country attain global competitiveness. Additionally, certain areas which need further encouragement include promoting global scale manufacturing for hardware systems, inviting global component suppliers to set shops in the country and creating Electronic Development Fund (EDF) to promote innovation.
Vidyashankar, president, IESA added: "IESA envisions working with the forthcoming government to enable India reclaim its global leadership position in science and technology and attract investments in the private sector. R&D needs a boost to make way for more patents and products made in India. Additionally, declaring electronics as a priority sector, addressing the disabilities ranging from 7-26pc, strengthening fabless product ecosystem and encouraging for domestically manufactured electronic products are important initiatives the industry is looking forward to".