Avnet India, which marked its silver jubilee on Tuesday, is betting on growth of 5G infrastructure, EV and aerospace & defence sector for its growth in coming times.
Bengaluru, NFAPost: Avnet, a global electronic components distributor with extensive design, product, marketing and supply chain expertise for customers and suppliers, said India should have best practices in ease of doing business so that electronics manufacturing should pick up fast in the country.
In an interaction with NFAPost, Avnet’s Regional President for South Asia and Korea Tan Aik Hoon said India contributes only 20% of the company’s South East Asia business.
“I believe India should follow Thailand, Malesia and Vietnam so that it can take benefit of China + One policy. Here the country should come up with best practices so that electronics and related industry will flourish in India,” said Avnet’s Regional President for South Asia and Korea Tan Aik Hoon.
She also pointed out that India stands to benefit from the strategy of many multinationals aiming to move out of China.
“Today the India percentage of our Southeast Asia business is 20% and I don’t see why it won’t grow to 25-30%. It should be about 35-40% in the long run,” Aik Hoon said during a media interaction in Bengaluru on Tuesday.
Avnet India Managing Director Suresh Kamath said the company started its India journey 25 years back and helped to to shape the local semiconductor and electronics industry. Also, supported Indian innovators from ideation to come up with tomorrow’s technology.
“We are proud to have been a part of India’s journey since 1998. We have helped Indian companies develop world-class products, and provide design and engineering services across a wide range of industries, including automotive, industrial, telecommunication as well as aerospace and defiance,” said Avnet India Managing Director Suresh Kamath.
Avnet India Managing Director Suresh Kamath pointed out India is yet to climb up in electronics manufacturing value chain as there is a lack of global electronic manufacturing service (EMS) firms in the country.
“Many of the EMS companies are present in countries like Thailand, Malaysia and Vietnam. These are the countries which started 25 years back. We have started it now and we need to be a little patient because these things don’t happen overnight,” Avnet India Managing Director Suresh Kamath.
The China Plus One strategy is a business move to diversify manufacturing and sourcing operations of companies beyond China to reduce dependence on the East Asian giant.
The company is bullish about its future plans in India on the back of a growing semiconductor industry, government policies to push indigenous manufacturing and a developing ecosystem in the direction.
“Within 3-5 year timeline India can start reap benefits in the manufacturing sector. But at the same time we have to focus on research and development and skilling initiatives,” said Avnet India Managing Director Suresh Kamath.
Avnet India provides a range of services to support local innovations, including product design and prototype manufacturing service, component sourcing and supply chain solutions, product value enhancement and life extension service, testing as a service (TAAS) and logistics / fulfilment.
In addition to its service offerings, Avnet India is actively developing the electric vehicle charging infrastructure in India. The company works with both global and local suppliers supporting this complex value chain, including system integrators and module manufacturers, and extends to the integrated device manufacturers, cable and connector companies and display manufacturers.
