India is expected to see increased product design and local manufacturing as it aspires to become a $ 400 billion electronic manufacturing industry by 2025, said Josh Foulger, Country Head & Managing Director, Foxconn International Holding (FIH), India.
He added that a large part of this growth would be fuelled by export and improved domestic consumption. The Foxconn India head said the National Policy of Electronics, which was announced before the pandemic, aims to support this goal significantly.
Foulger was talking at The Unfinished Agenda, an online event to celebrate the Life, Legacy and Ideas of F C Kohli. “We will see increased design, I would say, integrated design work where people really look at productization, there will be large companies, there will be medium sized companies and there will be startups. We will be looking at multiple tiered supply chain development happening, which will be enabled by the government, and also enabled by large and medium scale,” said Foulger.
He said India has a “leg-up” in terms of talent and cost.
“The $ 70(billion) to 400 billion growth is really going to come from export and improved domestic consumptions, and domestic manufacturing. So it’s very important that we address this in the right direction,” Foulger said.
According to him, India has seen good progress in mobile phone manufacturing with the Make in India initiative. “…And it has made a lot of progress. Now there are some spaces here which are sort of not hitting the headlines yet: computer hardware. And these are all big, big spaces where we can grow,” he said.
He also said the industry and the government need to address the skill gap together. Foulger also lauded the conducive environment for the industry in India.
“When you look at the competing geographies or countries, China, India, Brazil, Vietnam, Indonesia, India kind of checks all of the right boxes. It really is a conducive environment,” he said.