There was an urgent need to raise our domestic value addition from 15% to 30-35% to make us strong in the global industry.
ELCINA, the Electronic Industries Association of India, takes immense pride in announcing the commencement of the "13th Source India Electronics Supply Chain event," on the 23rd and 24th of January 2024, at the Chennai Trade Centre. This event marks ELCINA’s continuous efforts to fortify the foundation of India's Electronics Manufacturing Value Chain.
The Source India initiative, conceived during visionary discussions with Nokia in 2009, has evolved into a strategic initiative addressing the burgeoning challenge of supply chain dependencies. Recognizing the importance of a robust supply chain, ELCINA leadership took the initiative to organize Source India.
As India's electronics industry witnesses unprecedented growth, exceeding US$104 billion with a target of US$300 Bn, Source India has played a pivotal role in this trajectory over last 12 years. The event strategically focuses on strengthening the Electronics Value Chain by promoting domestic value addition, innovation, research and development. Over the past 8-10 years, manufacturing has witnessed a remarkable five-fold increase, with platforms like Source India facilitating crucial connections between buyers and sellers.
"The Source India Electronics Supply Chain Event is not just an exhibition; it's a catalyst for growth, innovation, and collaboration. Tamil Nadu is the ideal location for this forum to deliver highest value to the ESDM industry. The State has become the largest contributor to the electronics manufacturing sector. No one is in doubt or debating today that India will achieve the US$ 300 Bn mark in next few years." remarked Shri Atul Lall, President ELCINA & CEO, Dixon Technologies.
Tamil Nadu, recognized as a hub for the electronics manufacturing services (EMS) industry in India, has attracted global companies with a significant manufacturing or R&D presence in the state. The region has also attracted a diverse range of mid and large domestic EMS companies. In the fiscal year 2022-23, Tamil Nadu witnessed a remarkable surge in electronics exports, reaching US$5.37 billion, nearly tripling the previous year’s figure of US$1.86 billion.
For the period of April-October 2023, Tamil Nadu’s electronic exports stood at $4.8 billion, showcasing a month-on-month rise of 60% from $500 million in September to $817 million in October.
Thiru S Krishnan, IAS, Secretary, Ministry of Electronics & IT, Govt of India inaugurated the event and stated “Today we view electronics as the largest manufacturing industry in the world. Neglecting the sector would be a strategic blunder for us. The pace of growth was evident by the fact that compared to US$ 24 Bn exports achieved last year, India had already exported US$ 20 Bn worth of electronic equipment in first 9 months of the current fiscal.” Praising Source India as a valuable initiative, Mr Krishnan said “The relevance of Source India was highlighted by the level of domestic sourcing of components from within the country. There was an urgent need to raise our domestic value addition from 15% to 30-35% to make us strong in the global industry.”
Thiru Hans Raj Verma, IAS, CMD, TIIC & ACS Govt of Tamil Nadu joined for a special Session on Global Value Chains and emphasized that “Developing skills was vital. Industry has to come forward and nurture the skills and talent in the country and the youth. We must strengthen Tamil Nadu as a knowledge economy which we can offer to the rest of the country”.
Chief Guest Hon’ble Industries Minister Dr TRB Raja graced the occasion and addressed the participants as well as the media. Dr Rajaa too emphasized the need for developing skills and knowledge to raise the level of the youth and working population and make them quality conscious. He said “We need to now think of reducing errors to parts per billion from the current standard of parts per million. We will surely convert atleast 70% of the MoU’s worth over Rs 6 Lac Crores signed during Global Investors Meet compared to the 20-25% that most others do. Our focus is not on merely signing MoU’s but on the Dravidian model of development with distributed growth and quality employment. The government is working with focus on making Tamil Nadu the leader in electronics with a US$ 100 Bn output.” Dr Rajaa commented.
While supporting Source India comprehensively, Thiru. Sandeep Nanduri, IAS, Managing Director, TIDCO, said “Tamil Nadu stands out as one of the fastest-growing state economy in India, claiming the title of both the largest manufacturer and consumer in the country. Given these attributes, Tamil Nadu emerges as an ideal hub for electronics hardware manufacturing. Tamil Nadu is poised to become a key player in electronics hardware manufacturing and exportation nationwide. The state is on a trajectory towards achieving a remarkable US$ 100 billion milestone in the ESDM sector. The upcoming SOURCE INDIA 2024 event, themed "Energising India’s Electronics Industry for Global Value Chain," is perceived as a pivotal catalyst for the growth of the ESDM industry.
Ms Grace Lalrindiki Pachuau, I.A.S Executive Director, FaMe TN, the nodal State agency for promoting MSME’s, expressed her confidence and unstinted support to Source India as an effective forum. She stated "Tamil Nadu, boasting the fastest-growing economy in India, is strategically positioned as a premier hub for electronics hardware manufacturing. The government actively propels the Electronics System Design and Manufacturing (ESDM) sector, steering the state toward a pivotal role in this dynamic industry. Participation by TN State MSME’s in Source India would strengthen the supply chain significantly and accelerate our growth towards a US$ 100 Bn economy. With a vision to elevate MSMEs to international prominence, FaMe TN acts as a catalyst for professional and economic success in the ever-evolving electronics sector."
The Source India Electronics Supply Chain Event features a comprehensive three-pronged approach: an Exhibition boasting more than 170 industry participants, a two-day Conference themed "Energizing India’s Electronics Industry for Global Value Chain," and over 300 B2B Meetings. The Exhibition serves as a dynamic platform for B2B engagement, showcasing cutting-edge products and services. The Buyer Seller Platform, a unique initiative by ELCINA, aims to transform opportunities into tangible business deals through meticulously scheduled meetings.
Taking the vision of Source India to new heights, the Source India Portal conceived by ELCINA is an ambitious project aimed at integrating the entire electronics industry. This online platform serves as an electronic database, harmonizing manufacturers of raw materials, components, assemblies, and finished products. By seamlessly linking them to the global market, the portal aims to enhance self-reliance, boost exports, and reduce import dependence. The Source India Electronics Supply Chain Event stands as a testament to ELCINA's commitment to facilitating India's journey towards becoming a global electronics manufacturing hub.
