Electronics Industry

Electronics Industry

Electronics Industry

The electronics market of India is one of the largest in the world and is anticipated to reach US$ 400 billion in 2022 from US$ 69.6 billion in 2012. The electronics sector consists of communication and broadcasting equipments, computers, consumer and industrial electronics, strategic electronics and electronic components. The market is projected to grow at a compound annual growth rate (CAGR) of 24.4 per cent during 2012-2020. The growing customer base and the increased penetration in consumer durable segment have provided enough scope for the growth of Indian electronics industry. Also, digitisation of cable could lead to increased broadband penetration in the country and open up new avenues for companies in the electronics industry. Technological improvements and competitively cost effectiveness are main drivers for demand of Indian electronics products abroad. The Government of India has set up Electronic Hardware Technology Parks and Special Economic Zones in order to create a favourable climate for foreign direct investment. The Government has also increased liberalisation and relaxed tariff to promote growth in electronics industry.