New Delhi: The demand for electronic products in India is expected to
grow at a compound annual growth rate (CAGR) of 41 percent during
2017-20 to reach $400 billion by 2020, a study said on Monday.
According to a joint study by industry lobby Assocham and IT company NEC Technologies, the domestic production of electronic products -- which is currently growing at a CAGR of 27 percent -- may touch $104 billion, leaving a huge gap for import to the extent of $300 billion.
The worldwide electronics industry was valued around $1.86 trillion in 2015. The electronics industry, valued at $1.75 trillion, is the largest and fastest growing industry in the world, said the study.
The study said India`s total electronics hardware production 2014-15 was estimated at $32.46 billion, representing a share of about 1.5 percent in world electronic hardware production.
"The domestic consumption of electronic hardware in 2014-15 was $63.6 billion, of which 58 percent was fulfilled with imports. With demonetisation adding to the demand for POS (point-of-sale) devices and mobile phones, this demand is going to increase manifolds," it added.
Source:-Zeenews
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According to a joint study by industry lobby Assocham and IT company NEC Technologies, the domestic production of electronic products -- which is currently growing at a CAGR of 27 percent -- may touch $104 billion, leaving a huge gap for import to the extent of $300 billion.
The worldwide electronics industry was valued around $1.86 trillion in 2015. The electronics industry, valued at $1.75 trillion, is the largest and fastest growing industry in the world, said the study.
The study said India`s total electronics hardware production 2014-15 was estimated at $32.46 billion, representing a share of about 1.5 percent in world electronic hardware production.
"The domestic consumption of electronic hardware in 2014-15 was $63.6 billion, of which 58 percent was fulfilled with imports. With demonetisation adding to the demand for POS (point-of-sale) devices and mobile phones, this demand is going to increase manifolds," it added.
Source:-Zeenews
Viewmore:-Singapore Dedicated server and Singapore Cloud Server and Singapore VPS Server