By Pallavi Singh
Ease of doing business for MSMEs: Anticipating the release of the new draft e-commerce policy, small-scale television component manufacturers eagerly await the potential opportunities it may bring. With a strategic approach and government support, these manufacturers envision carving out a valuable niche for themselves, contributing to domestic production, and driving overall industry growth. By capitalizing on their specialized knowledge and skills, fostering collaborations with larger manufacturers, investing in research and development, and leveraging digital platforms, these small-scale producers aspire to thrive in the evolving landscape of the television component market.
To establish a strong market position, small-scale component makers aim to capitalize on their expertise in specific television parts. By offering high-quality, cutting-edge, and affordable solutions that cater to specific market demands, they aim to differentiate themselves from larger competitors and attract business from their Indian counterparts. With the potential for a significant scaling up of businesses, sourcing small components domestically could boost the industry by approximately 50 per cent.
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Furthermore, as the e-commerce landscape continues to grow and evolve, there is an increasing demand for unique and niche products. This presents an opportunity for small-scale manufacturers to cater to specialized markets and build a loyal customer base, particularly with the government’s emphasis on the Make in India initiative. Leveraging their agility and ability to meet specific customer needs, these manufacturers should aspire to carve out a distinctive place for themselves in the e-commerce landscape.
However, the impact of e-commerce policy on small-scale manufacturers is a complex issue that requires careful consideration. While challenges may arise in terms of competing with large platforms, the anticipated policy changes hold the potential to create a more level playing field and encourage the growth of smaller manufacturers within the e-commerce ecosystem.
Collaborating with larger manufacturers can be a game-changer for small-scale component makers. Through partnerships with established players, they can benefit from knowledge sharing, technology transfer, and access to wider distribution networks. By joining forces, small-scale manufacturers can leverage the expertise and best practices of industry giants, foster innovation, and accelerate their growth. Investing in research and development is also crucial to stay ahead of technological advancements and ensure the production of high-quality and cutting-edge components.
In the digital era, it is essential for small-scale component makers to leverage online platforms for marketing and distribution. Establishing a robust online presence through e-commerce platforms, social media channels, and targeted digital marketing campaigns can significantly expand their market reach. These digital avenues provide a cost-effective and efficient means to showcase products, engage with customers, and drive sales. Embracing digital transformation is key for small-scale manufacturers to remain competitive in a rapidly evolving marketplace.
The Production Linked Incentive (PLI) scheme has played a vital role in promoting domestic production and encouraging innovation. To further support the expansion of small-scale component makers, the government should consider increasing the overall budget allocated to the PLI Scheme. A larger investment would provide a strong incentive for small-scale enterprises to invest in advanced technology, enhance production capacity, and intensify research and development efforts. Moreover, a higher allocation in the PLI Scheme would foster collaboration between large and small-scale component makers, facilitating knowledge exchange and technology transfer to drive industry-wide growth.
Supply chain issues, particularly those related to imports, often pose significant challenges for small-scale component makers. Delays, high expenses, and complex import procedures can hamper their operational efficiency and competitiveness. Streamlining import processes, reducing bureaucratic barriers, and ensuring the timely availability of imported components and raw materials are crucial steps in alleviating these constraints. Supporting the development of domestic component manufacturing skills and promoting local sourcing can enhance supply chain resilience and mitigate dependence on imports by as much as 20-30 per cent.
To build resilience in the television manufacturing supply chain, it is necessary to empower small-scale manufacturers. The proposed e-commerce policy should be complemented with initiatives that help these manufacturers enhance their skills, gain access to affordable financing, and upgrade their equipment. Creating platforms for collaboration and knowledge exchange between small-scale producers and industry giants can enable them to leverage the expertise and best practices of established businesses. Additionally, establishing an ecosystem that encourages backward integration, promotes sustainable manufacturing practices, and supports domestic component manufacturing will strengthen the industry’s resilience and competitiveness.
In conclusion, the new e-commerce policy should be a promising opportunity for small-scale component makers in the television manufacturing industry. By implementing specialized knowledge, collaboration, and innovation strategies, these manufacturers can establish a solid market presence. Simultaneously, increasing investments in the PLI Scheme, expediting import procedures, and empowering small-scale businesses will create an ecosystem that fosters their growth and resilience. By capitalizing on these opportunities and overcoming obstacles, small-scale component makers can play a pivotal role in propelling the television manufacturing industry to new heights, benefiting all stakeholders involved.
Pallavi Singh is the Vice President of SPPL (Super Plastronics Private Limited). Views expressed are the author’s own.