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MAKE IN INDIA – PROSPECTS OF ELECTRONIC SECTOR
Presented By: Sandeep.P.S, Akhila Reddy

FEBRUARY 26, 2015
SIVA SIVANI INSTITUTE OF MANAGEMENT KOMPALLY, HYDERABAD

PAPER PRESENTATION MAKE IN INDIA – PROSPECTS OF ELECTRONIC SECTOR
Students-PGDM D. Akhila Reddy (ph:8008603183, mail: akhila.23tps@ssim.ac.in) Sandeep P.S(ph:09037323232, mail: Sandeep.23tps@ssim.ac.in) Siva Sivani Institute of Management, Secunderabad.

ABSTRACT
“Make in India” is an international marketing strategy, conceptualized by the Prime Minister of India, Narendra Modi on 25th September 2014 to attract Foreign direct investments from businesses around the world. Ultimately this process will strengthen the India's manufacturing sector. The campaign's purpose is to enhance job creation, boost the national economy and convert India to a selfreliant country and to give the global recognition to Indian economy. The purpose of Make in India is to convert the Indian economy as the manufacturing hub and to transform the Indian economy. India is inviting the investors from the rest of the world by eliminating laws and regulations, making bureaucratic processes easier and shorter, and make government more transparent, responsive and accountable. India is well known for software industry but lagging in hardware industry, therefore India is importing most of the electronic goods like Mobiles, Laptops, Flat panel LED, LCD TVs from foreign countries like Japan, China USA,UK, Singapore etc. as they have the brand image, therefore now India is focusing on “Make In India”. Though there are some Indian companies, they are not able to capture the major share of the Indian market. In recent years the Indian electronic industry is growing at a brisk pace. It is currently worth US$ 150 Billion and according to industry estimates it has the potential to reach US$ 400 Billion by 2020, with the import bill estimated to set the country back by US$ 300 Billion. There are some integral challenges that the Indian electronics industry is facing today like Lack of infrastructure, lack of friendly ecosystem, high electronics import bill etc.

Against this backdrop, the main objective of this study is to examine the present scenario of Indian Electronic sector in order to analyze the strengths and weaknesses of Indian electronic sector. In the light of above discussion, this paper mainly aimed to examine the market share of top 5 brands of cell phones, laptops and flat panel LCD & LED TVs. The study is based on secondary data which is collected from the published reports of Department of Electronics and Information Technology, Make in India Wikipedia, Newspapers, Websites etc. The findings of this study conclude that the share of Indian made goods is very much insignificant and the share of foreign goods is dominating. Thus there is a need to strengthen our electronic industry in order to achieve self-sufficiency. The NRI community constitute a very rich source of ideas, talents and cutting-edge along with high investment potential. As a nation we should make it very easy and attractive for them to come in and set up companies here to develop Made in India for the electronic goods.

KEY WORDS: Make Manufacturing sector.

in

India,

Electronic

Industry,

Scenario

of

OBJECTIVES
    To highlight the present scenario of Indian Electronic System sector. A comparative study of the major electronic brands operating in India. To study the challenges faced by the Indian Electronic Sector. To showcase the assistance given by the Indian Government towards the Indian Electronic System sector through “Make in India” program.

RESEARCH METHODOLOGY
The study is based on secondary data which is collected from the published reports of Department of Electronics and Information Technology, Make in India, Wikipedia, Newspapers, Journals, Websites etc.

FINDINGS
 PRESENT SCENARIO OF INDIAN ELECTRONIC SECTOR By 2020 the demand for electronic goods in India is expected to breach the US$400 billion mark, with the import bill estimated to set the country back by US$300 billion. In fact, it is expected to trump the energy import bill. India is staring at an import nightmare of unprecedented proportions that can push the country into a spiral of high imports that would necessarily require higher external and internal borrowings. There are several South American economies that have gone down that route for us to learn our lessons and not implode. The National Policy on Electronics (NPE) 2012 is primarily aimed at ramping up India's Electronic Design and Manufacturing (ESDM) capability. It is by far the most comprehensive policy intervention in post-independent India to boost indigenous production of semiconductor components and chips. The policy comes on the back of a strong and sustained demand for consumer electronic goods that accounted for a hefty bill of US$125 billion last year. However, just about 10 percent of India's consumption was produced internally; the rest was imported. In the last two decades China has become the second largest manufacturer of electronics goods in the world with its sales revenues crossing US$840 billion in 2013.

 COMPARATIVE STUDY OF MAJOR ELECTRONIC BRANDS IN INDIA The Indian ESDM industry was estimated to be worth USD 68.31 Billion in 2012 and is anticipated to be worth USD 94.2 Billion by 2015 with a CAGR of 9.88% between 2011- 2015. The sector comprises Electronic Products, Electronic Components, Semiconductor Design and Electronics Manufacturing Services (EMS). Top 10 electronic products by total revenue in India are mobile phones, flat panel display TVs, notebooks, desktops, digital cameras, inverters / UPS, memory cards/USB drives, EMS/LCD monitors and servers.

 Mobiles

The market share detail of the leading mobile brands is shown above. The statistics implies that the leading mobile brand in Indian market is Samsung (29%) which is a Korean company. The study revealed that India is lacking behind in the production of the hardware components though India is a strong developer of software and IT, which backs India by other foreign brands like Samsung.

 Laptops Hp (21%), Dell (19%), Lenovo (16%), Acer (9%), HCL (2%) are the major laptop brands plying in Indian Market out of which only HCL is the Indian brand. The statistics of laptop sales also reflects the inefficiency of Indian manufacturing industries that’s opens the way for foreign brands to dominate in India.

 Flat Panel Televisions

CHALLENGES OF INDIAN ELECTRONIC SECTOR
There are some integral challenges that the Indian electronics industry is facing today. If not controlled in time, it can pose some serious challenges. Some of the Challenges faced by the Indian Electronic Industries are:  High cost of capital: A significant challenge is the cost of finance, especially working capital. Capital is scarce to come by in India, and the cost of borrowing is very high, as compared to some other countries where electronics is flourishing.  Lack of Infrastructure: Another challenge is hard infrastructure, such as power, water, roads, etc. India will need to make significant and fast investments into infrastructure if domestic manufacturing has to get an impetus, and grow to global scale.  Lack of friendly ecosystem: The serious obstacles observed in the path of growth are the lack of friendly ecosystem for growth, inconsistent government initiatives, unstable exchange rate, poor infrastructure, and so on. It gets even harder to for India to catch up with the major global electronics manufacturing centers as the gap widens.  High electronics import bill: The electronics import is projected to grow, electronics hardware has potential to surpass oil import bill.  Severe price pressure on Indian made products: There is severe price pressure on India-made products from imported products, some of which seem to be suspiciously low priced with respect to BOM-to-manufacturing cost ratios. Moreover, the inverted duty structure on some of the components actually makes it cheaper to import them, than to design and make them indigenously in India.

MAKE IN INDIA
Make in India is an international marketing strategy, conceptualized by the Prime Minister of India, Narendra Modi on 25 September 2014 to attract investments from businesses around the world, and in the process, strengthen India's manufacturing sector. The major purposes of Make in India are job creation, enforcement to secondary and tertiary sector, boosting national economy, converting the India to a self-reliant country and to give the Indian economy global

recognition. The investment opportunities as proposed by the Make in India campaign are:        Setting up of Electronics Manufacturing Clusters. Semiconductor Wafer Fabrication (FAB). Electronic Components. Semiconductor Design. Electronics Manufacturing Services (EMS). Telecom products. Industrial/ Consumer electronics.

Some of the FDI policies developed by the Government of India for the development of manufacturing industry are:  100% FDI is allowed under the automatic route in the Electronics Systems Design & Manufacturing sector and is subject to all applicable regulations and laws.  In case of electronics items for defense, FDI up to 49% is allowed under the government approval route, whereas anything above 49% is allowed through the approval of the cabinet committee on security. The financial support provisions provided in the 2014-2015 union budget in favor of electronic sector are:  Basic customs duty on LCD and LED TV panels below 19 inches is being reduced from 10% to NIL.  Basic customs duty is being exempted on specified parts of LCD and LED panels for TVs.  Basic customs duty on color picture tubes for manufacture of cathode ray TVs is being reduced from 10% to NIL.  Special additional duty on all imports/components used in the manufacture of personal computers is being exempted.  Education cess and secondary and higher education cess is being levied on imported electronic products.  Full exemption from SAD is being provided on specified inputs i.e. PVC sheets and ribbon used in the manufacture of smart cards.  Basic customs duty is being reduced from 7.5% to nil on e-book readers.

CONCLUSION
Given the significant demand pool for domestic consumption of electronics in India, the opportunity is at our doorsteps. In order to create an ecosystem for growth, we need to create our own world class products, substituting imports from China and other countries. The government through the Make in India campaign can play an important role in the overall scenario by creating more technical parks, free trade zones, minimize bureaucratic hurdles, support industry by tax holidays, etc. First and foremost, we need to be able to somehow attract the large Indian diaspora, most of whom are highly qualified and experienced - to come and set up companies in India. The NRI community constitute a very rich source of ideas, talents and cutting-edge along with high investment potential. As a nation we should make it very easy and attractive for them to come in and set up companies here to develop 'Made in India for the world' products. Second, capital must be available at a significantly lower rate than what it is presently. Multiple routes are available for this, and all of them should be explored. Third, domestic manufacturing should be encouraged and incentivized, as only scale can bring about efficiency and economy in the supply chain. Many countries have adopted different policies to stimulate domestic manufacturing, and India too should learn and emulate this. The key learning is that opportunity does not knock the doorstep twice. India needs to learn to catch the wave and ride it! We missed the wave a few times in past, from semiconductor fabrications to mobile phones. It is time to grab the next wave in time!

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