Electronic, electrical goods industry should target USD 100 bn exports in next 5-7 yrs: Goyal

The Indian electronics and electrical industry should look at increasing exports to USD 100 billion over the next 5-7 years, Commerce and Industry Minister Piyush Goyal said on Monday. He said the export volume of electronic goods ranks second in the country against 167th in 2015. In January, the export volume of electronic goods was USD 3 billion. Look at increasing exports to "USD 100 billion in the next 5-7 years", he said at the 16th Edition of ELECRAMA, organised by the Indian Electrical And Electronics Manufacturer's Association (IEEMA) here. The minister also said India's electronic goods industry must work together towards more resilient supply chains, upgrade quality standards and provide high-quality goods and services to the world at competitive rates. He urged the participants to work together to bring competitive advantages to the manufacturing sector. The minister stressed that the industry has a responsibility to ensure that consumers are provided better deals. He urged the industry leaders and participants to shun protectionism and focus on balancing the interests of the industry, particularly the MSME sector. Protectionism beyond a point starts hurting the consumer, Goyal said, adding that balancing the interests of the MSME sector, along with the customers, should be the industry's biggest priority.