Mobile devices industry body ICEA and Refrigeration and Air-conditioning Manufacturers Association (RAMA) have come together with the objective of promoting industrial development and the end-consumer market.
India Cellular & Electronics Association (ICEA) and RAMA have entered into a Memorandum of Understanding (MoU) to this effect, a joint statement said.
“This MoU is the beginning of a long relationship to consolidate and expand India”s consumer electronics industry,” it added.
The initial pact has been signed between ICEA Chairman Pankaj Mohindroo and RAMA President Kanwal Jeet Jawa.
“The objective of this MoU is to promote cooperation between ICEA and RAMA, with a view to demonstrating their irrefutable support towards nation building and strengthening of the economy while creating opportunities for growth and development of their respective industry players, all with the larger objective of promoting industrial development and the end-consumer market,” it said.
The MoU will also facilitate and strengthen the exchange of information and ideas in the development of refrigeration and air conditioning technology in India and the manufacturing ecosystem around it, and to augment India”s place as an exporter and world leader in this space, it added.
Commenting on the development, Jawa said: “I envisage this non-financial collaboration to go from strength to strength in order to achieve the larger good at the structural & policy level.
“We must capitalise on our strengths to fuel the growth of our industries, both in domestic as well as in international markets. RAMA – ICEA MoU will significantly strengthen the flagship programmes of both the industry bodies.”
Mohindroo said the MoU will provide ICEA with respective members/industry players an opportunity to discuss, negotiate, and forge alliances or collaborations with each other, which will serve as a step towards increasing exports, providing competitive opportunities, and boosting the domestic sector, amongst others.
The annual R&AC industry market size was Rs 16,000 crore in 2019-20 of which 25 per cent was imported.
“The RAMA – ICEA MoU will significantly strengthen the flagship programmes of both the industry bodies. It will further enable the two sides to exchange information and ideas to increase competitive opportunities and space for collaboration. This will give an opportunity to the supply chains of both industries to collaborate and grow,” it added. Outlook India