Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post

“India Needs To Remove Red-Tapism And Take Care Of Infrastructure, Roads, Railways And Most Importantly Grow Business”

- Advertisement -

With local electronics output exceeding imports for the first time, India’s electronics ecosystem looks very promising. In an interaction with Baishakhi Dutta of Electronicsb2b.com, Vick Aggarwala, president and CEO of Supreme Components International Pte Ltd (SCI), a Singapore based component distributor shares his take on the current scenario of the Indian electronics industry and the growth opportunities he envisages in the coming days. Excerpts follow…

Vick Aggarwala, president and CEO of Supreme Components International Pte Ltd

Q) How has India been faring as a business destination compared to global markets recently?
In May of 2018, tariffs were imposed by the U.S. on China. The percolated effect on the ground started being felt in October-November of last year in the industry. It went on and on as tariffs got further increased; not withdrawn or reduced. The US and China are the top two world economies and have almost 75 percent of the total available market of semiconductors in the world. Components are roughly a 3/4 trillion-dollar industry. Globally, the snowball effect has spread to the rest of the world, including India.

Only the U.S. is relatively doing well right now. The rest of the world is doing badly. Japan, Korea, China, Germany, England, France, Italy, and India. India has two situations: one is their own internal issues and the other is because of the U.S. – China trade war. This has caused a slowdown in the Indian business. But I am investing in India because I foresee that it offers a tremendous potential to grow and expand.

- Advertisement -

Q) What are your thoughts on the recent corporate tax cut?
Recently the corporate taxes got reduced, which is down to 25 percent and 15 percent for manufacturers, which is the second-lowest in the world. Number one is Ireland which is 12 per cent. And then there are some Asian and European economies which are around 15 percent. So, India is at par with the world in terms of tax rates. This is going to help India because countries like the USA are looking to make investments in countries other than China. India with the English language speaking population, the western legal system, growing infrastructure, and factories moving out of China, definitely offers a great opportunity to encash upon.

Q) What potential does India hold as an electronics business market?
USA, Korea, Japan, and Taiwan are looking to move out of China so that the country of origin can change thereby reducing the tariffs for incoming shipments into the USA to be zero. Countries being looked at are Vietnam, Myanmar, Thailand, and India. There is a tremendous electronics business potential in India because of the young population, infrastructure build-up, GST introduction, and the country getting more and more IT savvy.

[emaillocker id=”79137″]

Q) According to you, which domain has seen an uprise and which domain has seen a downfall?
I think industrial is still okay. Military and defense are also okay. The consumer electronics industry is down. Automotive is also down. Cell phones and the smartphone market is not good. We have seen some downfall in these segments. But this is temporary.

Q) Any solutions that you have in mind regarding the areas that should be worked upon?
The infrastructure is poor. The import and export clearance regulations in India are very cumbersome. It takes forever to release shipments. Corruption is still going on. It could take three to seven days for clearing of any objection/s by authorities. In Singapore, shipments get released in a matter of a few minutes/hours & not days. It takes a lot of time in India. Businesses cannot work in such an inefficient environment. Supreme Components International (SCI) is “obsessed about adding value at the speed of thought for our customers and suppliers”. Because of delayed customs clearances, the speed of thought cannot be enforced, and we won’t be able to develop customers and provide them world-class service.

GST is a fantastic thing that could happen to India. It is effective now and is going to make a difference for them. India needs to remove red-tapism and take care of infrastructure, roads, railways and most importantly growing business which should be done with ease.

Q) So going forward, do you have any further investment or expansion plans for the Indian market?
Yes. We are already physically present in three locations i.e, Bangalore, Pune and Mumbai. We want to expand by setting our office in Delhi to cover the North Indian customers.

Q) Do you think getting customers is more difficult or getting the right talent pool is difficult in India?
Getting the right talent pool who have a global mindset, a global way of doing business, with strong office and business ethics is a difficult challenge. We look for people who are dependable, aggressive, make things happen, positive mind and have a strong appetite to be successful with fire in the belly.

Q) Do you see online and e-commerce gradually taking over brick and mortar businesses?
It is going to change but not soon. The traditional way of doing business will continue. Personal relationships and human touch are very important. Whether you are in the 21st century or 24th century, human touch and relationship building will always be there. There must be a personal touch.

At least for the next three to five years, I don’t see brick and mortar going away. Maybe 10 years down the road one could start experiencing the real significant e-commerce impact. R&D engineers, hobbyists, designers, low volume-high mix business is being enjoyed through e-commerce efforts currently. But when it comes to the volume business negotiations and personal touch is important. 

[/emaillocker]

- Advertisement -

Most Popular Articles

Infineon, Stellantis Partner To Advance Next-Gen Vehicle Power

0
With a dedicated Joint Power Lab and secured supply agreements, the partnership is set to drive transformative advancements in EV performance, cost-effectiveness, and the...

Audi Launches New EV Brand In China, Drops 4-Ring Logo

0
On Thursday, Audi introduced a new electric vehicle brand in China, branding the cars solely with the name 'AUDI' instead of its traditional four-ring...
IIT Bhubaneswar

IIT Bhubaneswar Partners MOSart Labs To Boost Engineering Skills In Chip Industry

0
The aim is to help students with essential skills in areas such as very-large-scale integration (VLSI), semiconductor technology, analog and digital design, validation, and...
Jaguar concept EV

JLR Highlights Its Biggest Reinvention With The Concept Car Jaguar Design Vision

0
The four-door GT is anticipated to be Jaguar's most powerful model to date. Its targeted range is approximately 430 miles (700 kilometers), and its...

ISE Labs Expands With New OSAT Facility In Mexico

0
Turbocharging its growth in North America’s tech hub, ISE Labs is set to build an OSAT semiconductor facility in Jalisco, Mexico, eyeing to create...

“Adoption Of IoT-Enabled SMT Machines Is Still In Early Phases” – Pradeep Tandon, Director...

0
While electronics are becoming smarter through the Internet of Things, is electronics manufacturing following suit? Pradeep Tandon, Director for India, Middle East, and SAARC...
Dr Yashodhan P. Gokhale, Vice President for Battery Technology, JSW Energy

Charge Forward: High-Voltage Batteries And MSMEs Can Fuel India’s EV Revolution

0
A nuanced explanation of low- and high-voltage EV batteries by Dr Gokhale, Vice President for Battery Technology at JSW Energy, illuminates their advancements and...
Sanjay Gupta, CDO & Global Head of Engineering, L&T Semiconductor Technologies

Can MSMEs Contribute And Profit From The Semicon Boom?

0
Semiconductor manufacturing often requires significant investment, typically feasible only for governments or large corporations. But are there opportunities for MSMEs as well? We spoke...
N.P. Ramesh, COO and Co-Founder, Orb Energy

“We Ensured Customers’ Monthly EMI Would Be Equal To Or Less Than Their Electricity...

0
In a conversation with Nitisha from EFY, N.P. Ramesh of Orb Energy outlines the early financing challenges customers faced. He explains how Orb Energy’s...

“Government Policy Should Equitably Address All Electric Vehicles: Extend Subsidies To Retrofits Or Remove...

0
Aryaman Raghuvanshi from EFY engages with Pramod Narendra, Head of Brand Management and Retail Network at Starya Mobility, to explore the overlooked potential of...

Wireless Light-Based Communication With Velmenni’s Technology

0
Velmenni is at the forefront of wireless communication innovation with its pioneering light-based technologies, Li-Fi and LC Link. Founded by Deepak Solanki in October 2014...

Harnessing AI Technology For Efficient Pest Management

0
AI-Genix, an agri-tech startup, is transforming pest management for farmers through advanced AI-enabled systems that precisely target harmful pests. In an industry where pesticides and...

One Charger To Charge All Your Devices

0
Now, there is no need to carry different chargers for different products. This Bhubaneswar startup has launched a universal 65W charger using GaN technology...

Karnataka Government Initiative Promises ₹5M To Tech Startups

0
Boosting innovation and entrepreneurship across the state’s vibrant ecosystem, Karnataka launched Elevate 2024 and KAN, offering grants up to ₹5 million for startups. On Tuesday,...

CastNX Tech Startup Secures ₹232M For Power Electronics Growth

0
Eyeing to boost R&D and produce 100,000 variable frequency drives by 2026, Indian power electronics startup CastNX has secured ₹232.2 million from Plutus Investments. CastNX...

Industry's Buzz

Infineon, Stellantis Partner To Advance Next-Gen Vehicle Power

0
With a dedicated Joint Power Lab and secured supply agreements, the partnership is set to drive transformative advancements in EV performance, cost-effectiveness, and the...

Audi Launches New EV Brand In China, Drops 4-Ring Logo

0
On Thursday, Audi introduced a new electric vehicle brand in China, branding the cars solely with the name 'AUDI' instead of its traditional four-ring...
IIT Bhubaneswar

IIT Bhubaneswar Partners MOSart Labs To Boost Engineering Skills In Chip Industry

0
The aim is to help students with essential skills in areas such as very-large-scale integration (VLSI), semiconductor technology, analog and digital design, validation, and...
Jaguar concept EV

JLR Highlights Its Biggest Reinvention With The Concept Car Jaguar Design Vision

0
The four-door GT is anticipated to be Jaguar's most powerful model to date. Its targeted range is approximately 430 miles (700 kilometers), and its...

ISE Labs Expands With New OSAT Facility In Mexico

0
Turbocharging its growth in North America’s tech hub, ISE Labs is set to build an OSAT semiconductor facility in Jalisco, Mexico, eyeing to create...

Learn From Leaders

“Adoption Of IoT-Enabled SMT Machines Is Still In Early Phases” – Pradeep Tandon, Director...

0
While electronics are becoming smarter through the Internet of Things, is electronics manufacturing following suit? Pradeep Tandon, Director for India, Middle East, and SAARC...
Dr Yashodhan P. Gokhale, Vice President for Battery Technology, JSW Energy

Charge Forward: High-Voltage Batteries And MSMEs Can Fuel India’s EV Revolution

0
A nuanced explanation of low- and high-voltage EV batteries by Dr Gokhale, Vice President for Battery Technology at JSW Energy, illuminates their advancements and...
Sanjay Gupta, CDO & Global Head of Engineering, L&T Semiconductor Technologies

Can MSMEs Contribute And Profit From The Semicon Boom?

0
Semiconductor manufacturing often requires significant investment, typically feasible only for governments or large corporations. But are there opportunities for MSMEs as well? We spoke...
N.P. Ramesh, COO and Co-Founder, Orb Energy

“We Ensured Customers’ Monthly EMI Would Be Equal To Or Less Than Their Electricity...

0
In a conversation with Nitisha from EFY, N.P. Ramesh of Orb Energy outlines the early financing challenges customers faced. He explains how Orb Energy’s...

“Government Policy Should Equitably Address All Electric Vehicles: Extend Subsidies To Retrofits Or Remove...

0
Aryaman Raghuvanshi from EFY engages with Pramod Narendra, Head of Brand Management and Retail Network at Starya Mobility, to explore the overlooked potential of...

Startups

Wireless Light-Based Communication With Velmenni’s Technology

0
Velmenni is at the forefront of wireless communication innovation with its pioneering light-based technologies, Li-Fi and LC Link. Founded by Deepak Solanki in October 2014...

Harnessing AI Technology For Efficient Pest Management

0
AI-Genix, an agri-tech startup, is transforming pest management for farmers through advanced AI-enabled systems that precisely target harmful pests. In an industry where pesticides and...

One Charger To Charge All Your Devices

0
Now, there is no need to carry different chargers for different products. This Bhubaneswar startup has launched a universal 65W charger using GaN technology...

Karnataka Government Initiative Promises ₹5M To Tech Startups

0
Boosting innovation and entrepreneurship across the state’s vibrant ecosystem, Karnataka launched Elevate 2024 and KAN, offering grants up to ₹5 million for startups. On Tuesday,...

CastNX Tech Startup Secures ₹232M For Power Electronics Growth

0
Eyeing to boost R&D and produce 100,000 variable frequency drives by 2026, Indian power electronics startup CastNX has secured ₹232.2 million from Plutus Investments. CastNX...