Need to drive demand for locally manufactured equipment, says govt
Updated: Feb 16, 2015 04:21:35pm
New Delhi Feb 16 (KNN) There is need to drive demand for the locally manufactured equipment in India and we need to study the successful models from across the world, said Secretary, Department of Public Enterprises (DPE), Kapil Dev Tripathi.
The secretary was addressing at the session on ‘Make in India - Incentivising Renewable Energy Equipment Manufacturing for Exports’ at the first ‘Renewable Energy Global Investors Meet and Expo (RE-Invest 2015)’.
The panelists said that the Indian renewable manufacturing industry has ample opportunity to scale up under the government’s “Make in India” initiative. However, they raised the issue of financial support and incentives to match the competition from global manufacturing markets.
Region Head, United Nations Industrial Development Organisation (UNIDO), Ayumi Fujino, said that Indian renewable energy sector presents huge potential for creating a robust manufacturing base.
Highlighting the importance of ‘Make in India’, Fujino stated that the initiative not only gels well for manufacturing in India, but it also provides opportunity for job creation.
The experts were of the opinion that India could look forward to developing overseas market, as the domestic manufacturing needs to have good export prospects. Solar manufacturing in India has struggled amid competition from global oversupply and cheap imports from countries like China. Indian domestic manufactures had good share in the global solar market till 2010.
However, it was after that the global oversupply and emergence of China led to downfall of Indian solar equipment manufacturers.
The panelists also stressed the need for innovative financing model for encouraging manufacturing export and bringing down cost of production. There may be need for a special technology fund which can be utilised for upgradation and acquiring technology as well as for R&D activities. (KNN/DB)
The secretary was addressing at the session on ‘Make in India - Incentivising Renewable Energy Equipment Manufacturing for Exports’ at the first ‘Renewable Energy Global Investors Meet and Expo (RE-Invest 2015)’.
The panelists said that the Indian renewable manufacturing industry has ample opportunity to scale up under the government’s “Make in India” initiative. However, they raised the issue of financial support and incentives to match the competition from global manufacturing markets.
Region Head, United Nations Industrial Development Organisation (UNIDO), Ayumi Fujino, said that Indian renewable energy sector presents huge potential for creating a robust manufacturing base.
Highlighting the importance of ‘Make in India’, Fujino stated that the initiative not only gels well for manufacturing in India, but it also provides opportunity for job creation.
The experts were of the opinion that India could look forward to developing overseas market, as the domestic manufacturing needs to have good export prospects. Solar manufacturing in India has struggled amid competition from global oversupply and cheap imports from countries like China. Indian domestic manufactures had good share in the global solar market till 2010.
However, it was after that the global oversupply and emergence of China led to downfall of Indian solar equipment manufacturers.
The panelists also stressed the need for innovative financing model for encouraging manufacturing export and bringing down cost of production. There may be need for a special technology fund which can be utilised for upgradation and acquiring technology as well as for R&D activities. (KNN/DB)
Loading...
