Shri Goyal urges electronics industry to shun protectionism, prioritise consumer interests

India should become one stop shop for electrical goods, aspire to reach the international trade export target of USD 100 billion in seven years: Shri Goyal

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. This was stated by Union Minister of Commerce & Industry, Shri Piyush Goyal during his address as a Chief Guest at the 16th Edition of ‘ELECRAMA’ organised by the Indian Electrical And Electronics Manufacturer’s Association (IEEMA) in New Delhi.  The Minister urged the participants to work together to bring competitive advantages in manufacturing.

The Minister highlighted that the industry has a responsibility to care for consumers by ensuring that the consumers are provided better deals. He urged the industry leaders and participants in attendance to shun protectionism and focus on balancing the interests of the industry, particularly the MSME sector. Protectionism beyond a point starts hurting the consumer. Balancing the interests of the MSME sector along with the customers should be the industry's biggest priority, he said.

Minister Goyal noted that the export volume of electronic goods ranks second in the country in 2025, compared to 167th ranked sector in 2015. In January, 2025 export volume of electronic goods was USD 3 billion alone, he said. He said that India should become the one stop shop for electrical goods and urged the industry to aspire to reach the international trade export target of USD 100 billion in the next seven years.

The Minister pointed out that the electronics goods industry has doubled its transmission infrastructure, renewable energy capacity and installed capacity in the last decade. He further stated that the Government has helped set up 1,800 Global Capability Centres (GCCs) in the country. He stated that the Government aims to develop a future ready workforce and promote innovation leveraging the high number of STEM graduates produced in the country.

Speaking on the theme of the special plenary ‘Bharat - The Vishwa Mitra’, Shri Goyal said that India takes pride in looking at the nation as one family that wishes to work with all countries of the world in a fair, equitable and balanced partnership with each other. India wishes to engage with the developed world from a position of strength offering them goods and services of high quality at affordable prices.  

The Minister asserted that the Government's various initiatives like ‘Digital India’, ‘Make in India’, ‘Design in India’ and ‘Serve from India’ along with its efforts to make customers buy local products and enable businesses to go global will help the country’s growth. “Government’s commitments to transform the economy, skill and train the workforce for high quality manufacturing and provision of services, policy certainty and speed and scale of development has led to this milestone, " he stated.

Protectionism discouraged to protect consumer interests and foster resilient supply chains for competitive electronics exports globally. The statement urges discouraging protectionism while prioritising consumer interests, calling on the electronics industry to balance MSME support with affordable outcomes. It directs industry collaboration to enhance supply chain resilience, upgrade product quality, and pursue export promotion, supported by government measures to scale manufacturing capacity, develop workforce skills, foster innovation, and enable global market access.