India’s collaboration with Singapore ESDM to facilitate trade
Collaboration with Singapore ESDM can take trade between the 2 countries to US$ 11.2 billion in 10 years: IESA – EY report on ESDM collaboration opportunities
The increasing demand for smartphones, tablets and consumer electronics is going to fuel the growth of the Electronics and Semiconductor Design and Manufacturing (ESDM) industry in India. The government is adding to the demand with initiatives such as ‘Digital India’ and Smart cities. The demand is expected to outstrip the production and services supply of ESDM by an estimated US$100 billion.
While India possesses the skills and talent pool required for production in the ESDM sector, it would need expertise and assistance in building the fabrication and electronics manufacturing units, if it were to manufacture on its own.
The Indian Electronics and Semiconductor Association (IESA) and the Singapore Semiconductor Industry Association (SSIA) have come together to explore ESDM collaboration opportunities. In an extensive report on the subject, EY has identified industry as well as government level collaboration opportunities.
The IESA-EY report was launched at the IESA Vision Summit, held in Bangalore on 2-3rd February 2015. According to the report, the synergies could potentially lead to a CAGR of 14% over the next 10 years for imports growth from Singapore to India, taking the trade to US$11.2 billion in 2024-25.
Speaking at the launch, Malay Shah, Director Advisory Services and ESDM sector leader, EY said: “The two countries can derive considerable synergies from opportunities and complementary strengths that each has to offer. These exist at the industry as well as the government level. We are happy to be associated with the IESA initiative of collaborating with SSIA.”
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