(MENAFN- KNN India)
New Delhi, Jan 10 (KNN) The Consumer Electronics & Appliances Manufacturers Association (CEAMA) has urged the government to launch a second round of the Production-Linked Incentive (PLI) scheme.
The focus would be on high-value components like compressors and motors, which are essential to boosting the sector's competitiveness in the global market.
CEAMA President Sunil Vachani emphasised the need to reduce tariffs and rationalise taxes to enable Indian manufacturers to compete globally.
"We must create a level playing field for our manufacturers by reducing taxes and tariffs," Vachani said. "India has a large base, and we should be manufacturing for the world", reported Business Standard.
The PLI scheme, which has already been successful in the air conditioner and white goods segments, has increased value addition in the sector from 18-20 per cent to 60 per cent. Vachani expressed confidence that with another round of PLI, this could reach 95 per cent in the next two years.
Vachani also proposed the creation of coastal centers of excellence offering plug-and-play facilities for MSMEs, with attractive land rates for large corporations. This would enhance export competitiveness.
Additionally, he recommended extending the timeline for implementing Quality Control Order (QCO) and Bureau of Indian Standards (BIS) certifications to ease the transition for manufacturers.
State Minister for Electronics & IT, Jitin Prasada, assured that the demand would be considered and discussed with the relevant ministries.
Prasada highlighted the growing significance of India in the global consumer electronics landscape, citing a JP Morgan report predicting that one out of every four Apple iPhones will be made in India by 2025.
India is also set to become the third-largest consumer electronics market by 2025, behind only the US and China.
"This is a result of India's growing economy and the favorable policies of the Modi government," Prasada added, further fueling the aspirations and demands of the new middle class.
As India strengthens its position in the global market, the industry continues to call for government support to ensure its long-term success.
(KNN Bureau)
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