San Jose, CA, USA / New Delhi May 28th, 2024 – India is poised to bridge a significant gap in its demand for displays, despite being the world’s third-largest consumer of display products (accounting for 7% of global revenue), the nation currently has insignificant domestic production. This presents a unique opportunity for international companies seeking to diversify their display supply chains beyond certain geographies, thereby complementing the domestic demand and also export from India.
Mr. Pankaj Mohindroo, Chairman, India Cellular and Electronics Association (ICEA), said, “we have an excellent of 50% capex support on parri passu basis as offered by India Semiconductor Mission (ISM) further supplemented by the state governments but we have not been able to break ground beyond display assembly. Display has a major 15% to 20% position in the Bill of Material which is close to the other logic, memory and other semiconductors. It’s a matter of great concern.
This sector needs special attention and we are determined to make India a strong display manufacturing nation”, said Mr. Mohindroo.
Even before times, ICEA realised the significance of setting up a robust display manufacturing ecosystem in India, this determination is demonstrably underscored by initiatives such as supporting the setting up of Centre of Excellence on high tech AMOLED displays at IIT Madras, Organising international conference-IDMC on Displays technologies and market.
To further create a global awareness, ICEA recently led an industry delegation to the prestigious SID Display Week event at San Jose, US (May 13-17, 2024). The delegation aimed to showcase India’s potential and readiness to become a display manufacturing hub for the world and attract investments in this domain. ICEA and SID together organised a rich panel discussion i.e, “India Business Forum” which was attended by global and Indian companies.
Shri S. Krishnan, Secretary, Ministry of Electronics and IT (MeitY), addressed the forum virtually and discussed India’s commitment for setting up display fabs and a ready market for the same. He highlighted the generous fiscal support of 50% capex support on parri passu basis by Govt. of India, to set up Display fabs in India. Shri S. Krishnan welcomed all intended investors and assured of all possible support from his office.
During the panel discussion, Mr. Harit Doshi, Secretary, Society of Information Display-SID and CEO of Omniply Technologies Inc. highlighted the huge market and a manufacturing conducive policy framework in India for international investors in the domain of Display manufacturing ecosystem. He emphasized the crucial collaboration with ICEA in achieving this goal.
The India Business Forum at SID Display Week 2024 marks a significant step towards realizing India’s vision of becoming a global leader in display manufacturing. Through strategic partnerships and robust support systems, India is well-positioned to make significant strides in this high-tech industry.
These targeted efforts aim to cultivate tangible investment opportunities and propel India to the forefront of display technology development, said Mr. Mohindroo.
Given the potential market size, technological capabilities, and supportive policies, investing in display manufacturing technologies and units in India could yield significant long-term benefits for both investors and the Indian economy and thereby realising the nation’s vision of AtmaNirbhar Bharat in this high tech industry.
