Memory FAQs
 
Home
News
Products
Shop
Memory
Corporate
Contact
 

News
Industry News
Publications
CST News
Help/Support
Member Area
Tester Brochure
Demo Library
Software
Tester FAQs

biology medicine news product technology definition

Friday, December 15, 2017
Memory Industry News
Email ArticlePrinter Format PreviousNext

India's blooming economy drives growth for electronics industry


Monday, June 19, 2017

Increasing disposable income among India’s growing middle class population has led to increased demand for consumer electronics, including TVs, mobile phones and computers, which, in turn, shows a positive outlook for the industry, according to a joint study by Assocham and NEC Technologies.

In fact, the demand of electronics products in the country is expected to grow at a compound annual growth rate (CAGR) of 41% to reach ?26.82 lakh crore ($400 billion) by 2020, the domestic production, which is currently growing at a CAGR of 27%, may touch ?6.97 lakh crore ($104 billion) leaving a huge gap for import to the extent of ?20.12 lakh crore ($300 billion), according to the joint study.

The industry, however, still needs to boost domestic production to meet the government’s vision of turning India into a manufacturing hub. Demand for electronic products in India is poised for significant growth in the next few years, driven by a strong economic outlook. The Indian electronics and hardware market grew by 8.6% YoY to reach ?5.03 lakh crore ($75 billion) in 2015, driven by rising local demand.

The investments in electronic manufacturing, which was just ?11,000 crore in June 2014, has increased exponentially to ?1,27,880 crore in 2016. This is also due to the government’s efforts to create an enabling policy ecosystem in the sector bringing through initiatives like Make in India and Digital India and providing special focus to schemes like the Modified Special Incentive Package Scheme (M-SIPS) and Electronic Development Fund (EDF).

However, even though there are signs of promising growth, the local production of electronic products has to be increased significantly to meet the domestic demand, according to the study. The industry suggest the government to focus on both infrastructural as well as at the policy level, increased emphasis has to be provided for increasing the percentage of local component manufacturing in India. Simplifying the complex regulatory structure for making compliance easier for new entrants and developing a participatory approach, where all the stakeholders are involved in the policy making process.

By: DocMemory
Copyright © 2017 CST, Inc. All Rights Reserved

Email ArticlePrinter Format PreviousNext
Latest Industry News
China regulators to probe Toshiba's chip unit sales on antitrust12/15/2017
Applications to drive data center server requirements in 201812/15/2017
Big Data intellegence to help IC design12/15/2017
Nvidia AI chip goes into Komatsu construction automation machine12/15/2017
China's Tsinghua Unigroup to get help from Lite-on to produce SSD12/14/2017
Apple invested in Finisar, an image recognition chip provider12/14/2017
Manufacturing IoT to realize its power in 201812/14/2017
German regulators to find out how amart TV manufacturers deal with the data12/14/2017
Alliance Memory specialize in hard-to-find memory ICs12/13/2017
Toshiba offers JEDEC USF-2 compliant embedded NAND12/13/2017

CST Inc. Memory Tester DDR Tester
Copyright © 1994 - 2017 CST, Inc. All Rights Reserved