Consumer Electronics and Appliances Manufacturers Association (CEAMA), the apex industry body for the Appliances and Consumer Electronics (ACE) industry is focusing on expanding its exports so that India become a $5 trillion economy.
CEAMA’s 38th annual function focused on ‘The Champions of Change – Moving Towards a Dollar Positive’ Industry’ was graced by Suresh Prabhu, Minister of Commerce & Industry and Civil Aviation; Amitabh Kant, CEO, NITI Aayog; Ajay Prakash Sawhney, Secretary, MeitY; Rituparno Mukhopadhyay, Partner, PwC; Somick Goswami, Partner, PwC along with Manish Sharma, President, CEAMA; Sunil Vachani, Vice President, North CEAMA; Kamal Nandi and other CEAMA dignitaries.
Additionally, in association with PwC, CEAMA unveiled a detailed report on ‘Future of consumer durables and electronics in India – the changing landscape’. The ACE industry still continues to grow in single digits and the root cause of this has been the continual depreciation of the exchange rate, cost of compliance and the frequent changes in policy and regulations.
The report highlighted the need to leverage customer services to drive revenue growth and how automation and technology can help fuel the segments growth even further.
Chief Guest Suresh Prabhu Minister of Commerce & Industry and Civil Aviation said, “In order expand our export potential as an industry, we have to robustly support the notion of entrepreneurship and manufacture goods for Indian market in line with the global standards. Only then will we able to achieve our vision and become a $5 trillion economy.”
Sharing his views, Amitabh Kant, CEO, NITI Aayog said, “The appliance and consumer electronics (ACE) sector offers immense growth opportunities, not only in terms of consumption with its export capabilities as well. India’s economy cannot sustain without exports, and while they have grown tremendously lately there is still ample room for growth. With the continual expansion of consumer’s aspirations and buying propensities, the durable industry potentially can contribute significantly to India’s aspirations of enhancing its export propensity by significant proportions.”
Sharing his views on this occasion, Manish Sharma, President, CEAMA said, “Our core focus this time around was to put the industry right in the centre of dialogue that explores its export potential, and puts into context the varied impacts it can have collectively on the Indian commerce industry. This will help spur the policy ecosystem for the segment and support the continually evolving business dynamics, especially regulatory reforms.”
Commemorating 39 glorious years of the ACE industry, CEAMA also felicitated its industry members for their outstanding contribution to the durable industry in India. It bestowed upon the Man of Electronics Award to A.D.A. RATNAM, President, Personal Health, Philips India Subcontinent and the Man of Appliances Award to Jasbir Singh Chairman and CEO of Amber Enterprises India.