Ahead of Trade Agreements, Here’s How ICEA Plans to Boost Indian Electronic Sectors’ Manufacturing, Innovation

As India intensifies its efforts to finalise key Free Trade Agreements (FTAs) with major partners, such as the European Union, and a Bilateral Trade Agreement with the US, the India Cellular & Electronics Association (ICEA) is gearing up to take proactive steps to sharpen the global competitiveness of India’s electronic sector. ICEA has announced the launch of Venture Access Labs, a strategic innovation access program in partnership with venture capital firm Caret Capital. 

The initiative has been designed to help India’s electronics and appliances manufacturers discover, curate, and adopt cutting-edge technologies from across the world, to develop a critical edge in a post-FTA trade environment. 

“We have really not gone as far as innovation is concerned in that area. So, technology and innovation have happened in IT, and various other sectors, but probably the product led and that too within the consumer electronics and appliances, there is a tech deficit, there is a gap. If we really want to take over the global competition, you need support, you need not only government support but also overall support from other stakeholders,” said Salil Kapoor Co-founder and Chief mentor of Venture Access Labs. 

The announcement comes at a time when India has already negotiated FTAs with several developed economies and planning to close a few more by the end of 2025. Many of these countries and companies based in these countries include advanced provisions around technical standards, sustainability, and digital trade—areas where India's electronics sector needs to upgrade rapidly. 

Pankaj Mohindroo, Chairman, of ICEA, said, "By opening the door to international technological advancements and building an innovation pipeline, we aim to accelerate India's electronics manufacturing capabilities and global competitiveness so as to capture a larger global market share.” 

Venture Access Labs has been designed to act as a gateway between Indian manufacturers and a curated pipeline of global startups and emerging technologies. These innovations span across a broad spectrum including advanced manufacturing, AI, IoT, energy efficiency, materials science, and more. 

By leveraging Caret Capital’s deep venture and tech scouting expertise, ICEA aims to bridge the gap between India’s electronics firms and global innovation hubs. India’s electronics sector has been a key beneficiary of past FTAs, particularly with UAE and Australia, where lower tariffs have boosted exports and opened doors to new markets. However, the FTAs have also raised the bar on product standards, compliance, and innovation readiness.  

With global value chains undergoing significant restructuring and “China+1” strategies in play, India's electronics manufacturers have a rare opportunity to position themselves as key suppliers in the global market. 

With India's electronics exports touching ₹3.27 trillion ($38.6 billion) in 2024-25 (FY25), and with ambitions to reach USD $300 billion by 2026, innovation remains central to unlocking the sector’s full export potential in the global market.