India's Rise in Global Manufacturing

After years of being on the sidelines, India has significantly advanced in the global value chain and innovation discourse. Rajeev Chandrasekhar, a former minister, highlighted the country's transformation into a manufacturing base for several top international brands.

Transformation Across the Value Chain

Chandrasekhar pointed out the shift from a decade ago when electronics manufacturing in India was dominated by domestic brands with products designed outside and manufactured in China. The last 3-4 years have seen a significant change, with both global and Indian brands now being manufactured and designed in India. This transformation has been facilitated by the government's shift from an import substitution framework to an export-led electronics manufacturing and design framework.

Key Trends to Watch

At the Digit Zero1 Awards 2024, hosted by Times Network, Chandrasekhar identified three important trends: digitisation, India's growing footprint in global value chains post-Covid, and the emergence of highly intelligent digital products powered by AI and edge AI. The event celebrated advancements in tech and innovation, with industry leaders honouring 71 winners across three categories.