The inaugural session was presided over by Gopalakrishnan – IAS, Joint Secretary, MeitY, Govt. of India and Dr. Omkar Rai, Director General, STPI. Both highlighted the importance of nurturing the start-up ecosystem in the country to promote innovation and encourage innovative disruption.
Key announcements at Vision Summit 2019
MoU signed with MeitY: IESA signed an MoU with MeitY to focus on strengthening the start-up ecosystem. As a part of this engagement, IESA will be the industry partner for the Ministry’s start up focused activities
Letter of Intent with Software Technology Parks of India (STPI): STPI will be unveiling over twenty software and hardware focused Centres of Excellence (CoE) across India. The aim of these CoEs will be to spur exchange of ideas, promote knowledge sharing, and support entrepreneurs with market access, technology and mentorship. IESA exchanged a Letter of Intent with STPI to be the industry partner for the hardware focused CoEs across India. As part of this engagement, a digital online platform – E-Playground - will be introduced to connect all stakeholders of the start-up ecosystem.
Report on the ESDM sector: Dr Satya Gupta, IESA, Executive Council & CEO SenZopt and Ajay Jalan, Founder & Managing Partner, Next Orbit Ventures prepared by Frost and Sullivan, launched an industry report on the Semiconductor & Electronics Market in India. Highlights of the report:
The Indian ESDM industry is expected to grow at a CAGR of 21.6% by 2025. This is four times the global growth rate
The Electronic Product Market has the potential to expand to USD 497 billion by 2025. Smart Phones, Defence and Engine Control Units are the demand creators
30 products across all segments of electronics constitutes over 79% of the revenue
The demand for domestic wafer has the potential to reach 17.3 million in volume by FY’25. The top 30 products would contribute to 71% of the total wafer requirement in FY’25
While presenting the ESDM report, Dr Satya Gupta, IESA, Executive Council & CEO SenZopt, announced that its member campaigns contributes USD 20 billion to the ESDM market with 2.5 lakh direct jobs and 10 lakh indirect jobs. He also said “India has had a very good success in the tech services industry for last 2 decades. We have the right talent and leadership to embark on the entrepreneurship journey. Govt and IESA should work together to enable these innovators to develop end-to-end solutions for India and global market place. Vision Summit is the key platform to have discussions and deliberations to build a vibrant ESDM solutions eco-system in the country.”
Rajesh Ram Mishra, President, IESA said, “The difference between consumption and production of electronics in India is going to create USD 300 billion import burden for our country. Our aim is to reduce this gap by at least USD 100 billion through Intelligent Electronics initiatives, design-led manufacturing and skill building. The mega trends of Industry 4.0, Smart Cities, 5G, AI & ML, Healthcare and Wellness are providing opportunities for large number of start-ups from India to work towards bridging this gap as well as cater to the world need.
Anil Kumar Muniswamy, Chairman, IESA and Managing Director, SLN Technologies said, “IESA continuously works to bring all relevant stakeholders on a common platform to deliberate on how we can create a strong ESDM ecosystem in the country. Our aim is to put in place the right policies and infrastructure, encourage start-ups and entrepreneurs by providing support, and work with the industry to provide the right mentorship and guidance for the growth of this industry. With India being the bright spot on the global business map, we believe that now is the right time to drive innovation and disruption in this industry. This year, Vision Summit is pushing the boundaries of creating solutions to make India a global design-led manufacturing hub.”