Frost & Sullivan Perspective on Industry Expectations from the New Government
Anand S., Vice President, Frost & Sullivan, articulates his views on industry expectations from the new government
With the General Elections 2019 for the Lok Sabha over and the results a mere two days away, Mr Anand S., Vice President, Frost & Sullivan, has expressed his views on what are the industry expectations from the new government that will be formed once all the results are declared.
Focus on innovation and new technologies - Achieve power sustenance and improve the share of non-conventional energy by leveraging novel technologies that includes solar, wind and tidal. This is the need of the hour. The government should provide support in improving the infrastructure growth in the country for a better industrial and economic growth, and maintain the price to consumers at acceptable levels to ensure the industry does not incur loss.
Electronics Manufacturing Cluster
Empower regulatory bodies to grant quick approvals to speedily implement policies that will enable local manufacturers to thrive in a highly competitive environment. To meet the burgeoning demand from the Indian market, it’s imperative that the Government implements industry friendly manufacturing policies to boost the electronics market in India.
The demand in the electronics segment will reach $500 billion in the next five years, which has largely been catered by imports. The Government can facilitate initiatives that provide incentives and thereby reduce the dependence of importing electronic products and components.