US$ 41 billion market in India:
Lanka can tap electronic market
Buyers confident of timely delivery:
* Opportunities in capturing
USD 41 billion Indian market
* More than 500 million
mobile phone users
* Value of exports in
electronics is around USD 400 million
The Sri Lankan electronic manufacturing industry has many
opportunities of partnership to meet the requirements of the US$ 41
billion market in India with a professionally calibrated marketing
strategy. TOS Lanka Executive Director Merrick Gooneratne told Daily
News Business that buyers have renewed their interest following the war
victory and political stability.
“On time delivery of goods was a serious problem earlier due to
security checks due to the conflict but the situation has completely
changed now and buyers are confident of timely delivery of goods and
placing orders,” he said.
He said that all major auto makers have set up manufacturing plants
based in Chennai and India’s automotive industry running counter to
global trends is experiencing high growth. Maruti and Suzuki company
exports have nearly tripled to a record of 14,847 vehicles in August
The market for mobile phones is on a phenomenal upward spiral with
more than 500 million mobile phone users and additional 15 million users
jointly every month.
“Therefore as far as the opportunities for the industry is concerned
,one has to only focus on the Indian electronic market,” he said.
Lanka factory in Biyagama
Gooneratne said the total value of exports in electronics is around
US$ 400 million and employment generation is around 30,000 and value
addition is in the range of five to ten percent. The Sri Lanka
electronics manufacturing industry was focused on production of a range
of electronic components targeted towards global export markets. These
products included magnetic heads, ferrite cores, fibre optic related
products, printed circuit boards, compact fluorescents, memory modules,
toroidal coils, thermal outfits and energy saving lamps.
In more recent times companies such as Lanka Harness entered the zone
at Biyagama manufacturing a range of Automotive Harnessing and
Automotive Electronics for Toyota in Japan.
The most recent entry to the Sri Lankan market is Okaya Denk which is
a major global player in electronic specializing in manufacturing of
noise suppressors. “There are 100 percent Sri Lankan owned companies
such as IE Electronics manufacturing electricity meters and transmission
equipment and Nippon Marudhi Lanka manufacturing microwave products in
addition to some of the companies located in the BOI zones,” he said.