In May 2020, Hon’ble PM gave a clarion call to the nation to encourage and support local Indian products and services and gave a slogan of ‘Vocal for Local’ to boost Indian economy in current pandemic situation. ‘Vocal for Local’ is an undercurrent that was waiting for a trigger to become fountainhead for domestic growth and global outreach. In this context, Startups Forum of PHD Chamber of Commerce & Industry organized an Interactive VC Meet ‘Vocal for Local in ICT and Electronics Sector’ on 30th June 2020. Session was attended by 150+ participants from IT and Electronics Sector, Startups, VCs and investors.
Dr. Omkar Rai, Director General, Software Technology Park of India (STPI), Ministry of Electronics and IT (MeitY), Government of India said that domestic IT industry is developing new products and services through innovation and Hon’ble Prime Minister Shri Narendra Modi is embracing these opportunities to attain ‘Vocal for local’ model in India. Through self-reliance and progressive ecosystem we can fulfill current and future needs, he said. He stated that we should conduct more intensive research and developments in Indian product itself with strategic coordination between industry, academia and government to achieve the important mission -Atmanirbhar Bharat and Vocal for Local. According to Dr. Rai, our self-reliance cannot be substantial, until we create our own product and services, not a copied version from global market.
Mr. Tanmoy Chakrabarty, Group Government Affair Officer, Tata Sons Private Limited mentioned that it is important to create manufacturing clusters in India and he appreciated the initiatives of the government of India to support for the cause. He stated that there is huge scope in Indian domestic market and current pandemic situation and environment is compelling us to opt ‘Vocal for Local’. He mentioned that this pandemic is setting, excellent examples of research and development and advancement in the services and said that government has a bigger role in consumption of software and electronics products.
Mr. Pradeep Multani, Vice President, PHD Chamber of Commerce and Industry, in his opening address mentioned that, though, this pandemic created health and economical backlash to the entire world but, it is well said that ‘each problems shows us the way to fight the problem itself’. In this context he referred to two important sectors of Indian economy, Health and IT that are unstoppable even after lockdown. These sectors are not only fighting pandemic, but also providing handholding to other sectors as well. He mentioned about clarion call of the Hon’ble PM on “Vocal for Local”, which comes on the heels of three major schemes being launched by the Indian government – Production-Linked Incentive Scheme (PLI), Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) and Modified Electronics Manufacturing Clusters (EMC 2.0) Scheme – to boost the electronics manufacturing sector. These policies echo the maxim ‘vocal for local’ as espoused by the Prime Minister for a stronger and more self-reliant Indian economy.
Dr Ajay Data, Chairman, ICT and Electronics Committee, PHD Chamber of Commerce and Industry, supported the vision and mission of Hon’ble PM, ‘Atmanirbhar Bharat (Self Reliant India Mission).’ He mentioned that Indian Startups are doing excellent work in solving issues of India community. Dr Data said that through contactless technology and innovation, we can empower, not only domestic industries, but also can maximize global opportunities. Hence ‘Vocal for Local is the need of the hour. Dr. Data appreciated the initiatives of Indian government to support local industries and shared an example of where the Ministry of Electronics and IT (MeitY) launched innovation challenges for developing video conferencing platform.
Mr. Kunal Singhal, Co-Chairman, Electronics &ICT Committee, PHD Chamber of Commerce and Industry mentioned that Indian companies are doing R&D and production for global companies who are selling back the same products to Indian markets so an enabling ecosystem is required to manufacture products in India. He appreciated initiative and coordination of government of India, where they have invited Indian industries and completing their fast track registration. He urged PHDCCI to participate in R&D of newly registered companies and to share their valuable inputs and suggestions.
Mr. Saurabh Sanyal, Secretary General, PHD Chamber of Commerce and Industry gave concluding remarks said that manufacturing of semiconductors, chips, PCBs etc need a boost. He mentioned that the government is very active and handholding Indian industries for their growth and development. The session was moderated by Dr. Jatinder Singh, Director, PHD Chamber of Commerce and Industry.