"Two push and pull factors are working in favour of India and the complete ecosystem has been generated, the pull factor is looking at the 1.25 billion population and the vast area, as such every company intends to invest in this country," said Chaudhary while inaugurating an Assocham conference on Electricals & Electronics Manufacturing.
"The push factor is that all across the globe, while per hour professional and engineering charges come to more than $3.5 but in India it is less than even $1," he said.
"So this is a place where these two factors, pull and push can work in favour of India and above all, the overall cost for creating the manufacturing hub here is much less than in other parts of the world," said Chaudhary.
He also stressed upon the need for India to promote research and development to stay ahead and keep abreast of technology in this digital age.
"There is a need for developing a commercially viable research ecosystem funded by the government, industry and academia to promote the next wave of electronic technology in the country and innovations in our journey to becoming a developed nation," said Chaudhary.
He said considering that demand for electronic hardware in India is projected to increase from $45 billion in 2009 to $400 billion by 2020 it offers a huge opportunity for making investments and attaining huge growth in the electronics manufacturing sector.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
About VDC
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.