India has to bounce back on the manufacturing sector and should double down on electronics manufacturing services (EMS)-designing, manufacturing, and testing components and assemblies for original equipment manufacturers, Tata Electronics Chairman Banmali Agrawala added.

Agrawala mentioned the nation has gone 'slow' on the manufacturing front and needed to make sure that the industry, which contributes 13-15 percent of India's GDP, has a major share and will make a better-paying position during an interaction with Vinay Ramesh, COO at the Foundation for Economic Development. 

"Our share in the global trade in manufacturing is negligible, so there is ample room for growth. Electronics, on its own, has a global trade worth USD 5 trillion. Given the pace of digitalisation the world over, it is only going to grow, and this is something India should be after," Agrawala said, adding that India's domestic consumption is not going to be enough to be able to achieve sustained economic growth.

"We have to have the world as our marketplace," he said.

Agrawala also added the government has to keep on working with the need to get going they have shown up until this point and guarantee that the empowering framework for manufacturing is in place.

"It's not just the quantity but also the quality of power and water supply that matters. This makes the difference; the logistics in terms of connectivity to airports, proximity of airports, because the components industry moves through air. The government would do well to ensure this enabling infrastructure is in place. A lot of this is in the domain of state governments," he added.