ENA Sectors 2025-02-25 14:22:47 <p><span style="font-size:14px"><strong>New Delhi, Feb 25 (KNN)</strong> Commerce and Industry Minister Piyush Goyal has challenged the Indian electronics and electrical industry to significantly scale up exports to USD 100 billion within the next 5-7 years, highlighting the sector's remarkable growth trajectory over recent years.</span></p> <p><span style="font-size:14px">Speaking at the 16th Edition of ELECRAMA organised by the Indian Electrical And Electronics Manufacturers Association (IEEMA), Goyal emphasised the dramatic improvement in India's global standing in electronic goods exports. </span></p> <p><span style="font-size:14px">He noted that the sector has risen to become the country's second-ranked export category, a substantial improvement from its 167th position in 2015.</span></p> <p><span style="font-size:14px">The minister cited January's electronic goods export volume of USD 3 billion as evidence of the industry's growing strength and potential for further expansion. This achievement underscores the sector's increasing competitiveness in global markets.</span></p> <p><span style="font-size:14px">Goyal outlined several strategic imperatives for the industry to sustain and accelerate this growth. He called for collaborative efforts to develop more resilient supply chains, enhance quality standards, and deliver high-quality products and services to global markets at competitive rates. </span></p> <p><span style="font-size:14px">The minister specifically urged industry stakeholders to work together to strengthen competitive advantages in the manufacturing sector.</span></p> <p><span style="font-size:14px">In his address, Goyal emphasised the industry's responsibility toward consumers, stressing the importance of providing better deals and value. </span></p> <p><span style="font-size:14px">He cautioned against excessive protectionism, warning that such measures ultimately harm consumer interests. The minister advocated for a balanced approach that considers both industry needs, particularly those of the MSME sector, and consumer welfare.</span></p> <p><span style="font-size:14px">The Commerce Minister's ambitious export target reflects the government's confidence in the electronics and electrical industry's potential to significantly contribute to India's export growth and economic development in the coming years, positioning the sector as a key driver in the country's manufacturing landscape.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span><br /> </p> 41195 https://knnindia.co.in/news/newsdetails/sectors/piyush-goyal-sets-usd-100-bn-export-target-for-indias-electronics-industry-at-elecrama-2025 2025-02-25 14:22:47 knnindia.co.in