Increasing cost competitiveness will upturn domestic manufacturing in the electrical sector

Imteyaz Siddiqui, Managing Director, ALTANOVA & Doble India. In an interview with EPR Magazine.

Commenting at the launch of the 15th Edition of ELECRAMA, Imteyaz Siddiqui shares his optimism about reshaping and restructuring the electrical and electronics business graph with increased domestic manufacturing in India. 

What are your views about ELECAMA, the first offline event after 2019? 

At ALTANOVA Group-A Doble Company, we are pretty excited about the next edition of ELECRAMA. The pandemic has changed our lifestyle, owing to which we have been utterly deprived of physical meetings with people, clients, and customers. We want to change from online to physical display of our products and technologies. So, such an event is a hope for the industry as it allows us to meet our clients, customers, and industry leaders in person and look for expansion.

How do you foresee and evaluate the increase in domestic manufacturing in the face of such events? 

One is the government’s push, and the other is cost competitiveness, which will act as a catalyst in enhancing India’s localisation and domestic manufacturing of electronic components and accessories. If you manufacture elsewhere and try to sell them here, then the cost won’t be able to sustain it; whereas, if we make in India for India, it will encourage the domestic manufacturers in a big way, and this will widen the market opportunities for them and expand their business in India and abroad. So, yes, this definitely will be a boon for local and domestic electrical and electronic manufacturers in the coming years.

Given the current geopolitical situation and costs, what challenges do you see in the supply chain? 

This condition will last for some time because the world is currently experiencing a crisis, affecting the electrical and electronic industries. They’re also adding fuel to the already existing supply chain issues that the pandemic has brought into play. So, if the world returns to normalcy, I believe we will see a favourable transformation in the business, and the supply chain and cost position will improve even more.

Consumers have become more cost conscious in the market as a result of the epidemic. What are we going to do about it? 

It has always been this way since the beginning of human evolution. As a result, any such environment will elicit a battle for survival, leading to the survival of the fittest. So, every problem will yield a solution, which will, in turn, become the root cause of another problem in the future, which will yield new solutions, and so on. However, some individuals may lose their jobs in such a case, and other people will enter the market or sector. So, following this epidemic, human resilience will aid us in getting back in shape and attempting to develop charts that were not before intended.

What kind of technology can we see during this event? 

We’ll showcase all the new items and technology that ALTANOVA Worldwide has produced in the last two or three years, and we have a lot of it. Our portfolio has grown significantly, and we now have a large number of instruments and solutions to exhibit to the market at the forthcoming edition of ELECRAMA.