Manufacturing industry in the country and educational institutions should focus on research so that the country can strengthen its capabilities in making end products, V. Veerappan, Chairman of Greenwich Nexgen Energy Solution, said in Coimbatore on Thursday.
He inaugurated Elektrotec, a four-day industrial electrical and electronic exhibition organised by Coimbatore District Small Industries' Association at the CODISSIA Trade Fair Complex. The event is supported by Tamil Nadu Energy Development Agency (TEDA).
Mr. Veerappan said educational institutions should encourage research. Businesses should also look at increasing their market base, and adopt a good business model.
Electronic product consumption in the country now was worth about 60 billion dollars and almost 80 per cent of these were imported, either as products or components. Korea, Malaysia, Vietnam and China had developed the manufacturing sector during the last few years.
India's electronic product consumption was estimated to grow to 400 billion dollars by 2020 and this included laptops, handsets and television sets. Electronic imports were likely to exceed oil imports by 2020, if the current trend continued. The industry had appealed to the Union Government to support the manufacturing sector. The Centre was now working on a hardware policy.
K. Gururajan, Deputy General Manager of TEDA, said about 10 lakh students in the State would be involved to create awareness on green energy. The State had tremendous potential for biomass projects. Nearly three lakh solar lamps and one lakh solar street lights would be installed in the State soon.
C. Muthusami, chairman of the event, said the four-day exhibition at the CODISSIA Trade Fair Complex had more than 80 exhibitors and 100 stalls. Technical seminars would be held on September 2 and September 3. The event showcased electrical and electronic needs for homes and industries and several energy efficient and renewable energy gadgets.
The Hindu is the media partner for the exhibition.
Keywords: Elektrotec exhibition