ACE industry lauds reforms, bullish on India maturing into a global manufacturing hub

The 43rd CEAMA Annual Function 2022 themed “Indian ACE industry celebrating Azadi Ka Amrit Mahotsav” witnessed optimism all around and industry stalwarts’ undeterred resolve to build a truly Aatmanirbhar Bharat

Aglimpse of a New India in making that has learnt to dream big was duly witnessed during the Consumer Electronics and Appliances Manufacturers Association (CEAMA) 43rd Annual Function ACE Dialogues 2022 held on 16th November, 2022 in New Delhi. Leading from the front, Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal lauded role being played by CEAMA as flag bearers of new prosperous India.

“CEAMA leadership and members need to be duly appreciated for their passion and commitment to contribute to India's growth story. It’s heartening to note that our industry is open to competing on an equal basis while dealing with the developed nations. This shows courage and conviction of Industry in their ability to compete with the best and taking India towards a path of becoming truly Aatmanirbhar Bharat.” said Shri Goyal.

Today, India is one of the fastest growing Appliances & Consumer Electronics (ACE) markets in the world. With the low penetration levels in most of the product categories, the industry comprising large and small appliances and consumer electronics is estimated to double its value in the next 3 years to reach 1.48 lakh cr. by 2025. Initiatives like the Production Linked Incentives (PLI) scheme in ACS that have supported the growth in manufacturing, and FDI in consumer electronics that has almost doubled from 198m USD in 2021, to 481m USD till June 22.

India is a ‘SMART’ country and CEAMA as flag bearers of new prosperous India, Shri Goyal felt should deal with SMART as an acronym, where ‘S’ stands for Sustainability. Sustainability should be the hallmark of the consumer electronics industry. ‘M’ should stand for India’s manufacturing capabilities of high-quality products recognised globally. ‘A’ should stand for Aatmanirbhar Bharat with the entire gamut of component ecosystem in India to support global consumer electronics manufacturing base. ‘R’ should stand for Rating, where industry propagates quality ratings with the Made in India label on self-regulation principles. He asked to encourage people to adopt modern standards and buy high quality goods. ‘T’ should stand for technology.

Shri Goyal also unveiled a report by CEAMA in association with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) Gmbh titled ‘Towards a Sustainable Consumer Electrical and Electronics Waste (CEEW) Value Chain – Mapping and plugging leakages’ with the objective to improve e-waste management in India. The study aims to identify and suggest recommendations to plug leakages of e-waste, to help improve the recovery of recycled materials contributing to building a better circular economy.

Welcoming a mantra laid bare by the Minister, Eric Braganza President, CEAMA said “We as an industry, are eager to be involved in the transformative process that this sector can engender, the outcome will require a multi-faceted approach.

Today, the Annual event was a perfect platform to engage and exchange ideas on how growth of the appliance and electronics sector can be accelerated and the benefits that can accrue to the sector, and indeed the nation, from sustained growth. With close interaction with the Government, let us work together towards fulfilling the vision of our PM of making India Atmanirbhar Bharat and turning our industry into an alternative manufacturing hub and a major export destination for the world”, he added.

A knowledge session was delivered by GFK India on the topic ‘Current & future trends for ACE industry’. The eventful 43rd CEAMA Annual Function then came to closure with vote of thanks from Mohit Verma, Honorary Treasurer, CEAMA.