Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post

Indian Government urged to support domestic electronics as consumer demand escalates

- Advertisement -

Demand for electronic products, such as smart TVs and phones, in India is forecast to expand at a compound annual growth rate (CAGR) of 41 percent from 2017-2020 to reach US$400 billion by 2020.

Indian Government, domestic electronics, consumer electronics, india

However, to hit such highs, the Government will be required to assist domestic production, according to a joint study by ASSOCHAM and NEC.

- Advertisement -

Domestic production is currently growing at CAGR of 27 percent and could reach $104 billion, creating a gap for the import of $300 billion-worth of electronic goods, said the report.

Globally, the electronics industry is valued at $1.75 trillion and is considered the fastest growing industry in the world.

In India, the electronics and hardware market grew by 8.6 percent year-on-year to reach $75 billion in 2015, driven by increased demand. India’s growing middle class population and increased amounts of disposable income has led to more consumers requiring connected TVs, smartphones and computers in particular.

The domestic consumption of electronic hardware in 2014-2015 was $63.6 billion. Of this, 58 percent was fulfilled through imported goods. During this period, India produced an estimated $32.46 billion worth of electronics hardware, representing around 1.5 percent of the world’s total production of goods in this sector.

Investments in electronic manufacturing have rocketed in the past few years, with INR110 billion spent in June 2014, compared to INR1278.8 billion last year. Incentives such as the Make in India and Digital India campaigns have helped growth, along with specially focused schemes such as the Modified Special Incentive Package Scheme (M-SIPS) and Electronic Development Fund (EDF).

By Baishakhi Dutta

- Advertisement -

Most Popular Articles

Greaves Cotton Targets ₹15,000 Crore Revenue By 2030

0
Chairman Karan Thapar emphasised Greaves' evolution into a complete mobility solutions provider featuring a strong, varied growth model. Greaves Cotton Ltd. (GCL) has evolved from...

TSMC Grows EUV Share To 56%, Outpaces Rivals

0
Powering ahead, TSMC is dominating EUV market with 56% share reportedly. While it solidifies its lead in semiconductor technology, Samsung Foundry looks to compete...

Bangladesh Unlocking Its $1B Semiconductor Export Potential?

0
Speaking on workforce development, policy support, and global partnerships at a US meeting, the Bangladesh Semiconductor Industry Association has ambitious goals. The Bangladesh Semiconductor...

Vajram Electric Aims To Expand Manufacturing And Global Presence

0
Vajram Electric Ltd is securing financing to enhance its manufacturing plant, increase production, and establish itself as a major supplier of international electric vehicle...

India, Kazakhstan Forge Stronger Ties In Electronics

0
Eyeing tech partnerships and new opportunities, India-Kazakhstan business ties soar at the AIFC conference. Can this be a gateway for Indian electronics firms into...
John W. Mitchell, President and CEO, IPC

“India’s Core Focus On 5G, IoT, AI Fosters Need For Advanced Electronics,Components, And Semiconductors”...

0
Will Industry 4.0 supercharge India’s progress in semiconductor and electronics manufacturing? IPC President and CEO John W. Mitchell shared more strategies on the country’s...
Raman M., Co-Founder and CEO, chargeMOD

“Our Goal Is To Achieve Complete Sustainability By 2025-2026” – Raman M. Of chargeMOD

0
In a conversation with Nitisha Dubey from EFY, Raman M. of chargeMOD, elaborated his goal of developing virtual power plants by decentralising power production. Q....

“Adoption Of IoT-Enabled SMT Machines Is Still In Early Phases” – Pradeep Tandon, Director...

0
While electronics are becoming smarter through the Internet of Things, is electronics manufacturing following suit? Pradeep Tandon, Director for India, Middle East, and SAARC...
Dr Yashodhan P. Gokhale, Vice President for Battery Technology, JSW Energy

Charge Forward: High-Voltage Batteries And MSMEs Can Fuel India’s EV Revolution

0
A nuanced explanation of low- and high-voltage EV batteries by Dr Gokhale, Vice President for Battery Technology at JSW Energy, illuminates their advancements and...
Sanjay Gupta, CDO & Global Head of Engineering, L&T Semiconductor Technologies

Can MSMEs Contribute And Profit From The Semicon Boom?

0
Semiconductor manufacturing often requires significant investment, typically feasible only for governments or large corporations. But are there opportunities for MSMEs as well? We spoke...

Wireless Light-Based Communication With Velmenni’s Technology

0
Velmenni is at the forefront of wireless communication innovation with its pioneering light-based technologies, Li-Fi and LC Link. Founded by Deepak Solanki in October 2014...

Harnessing AI Technology For Efficient Pest Management

0
AI-Genix, an agri-tech startup, is transforming pest management for farmers through advanced AI-enabled systems that precisely target harmful pests. In an industry where pesticides and...

One Charger To Charge All Your Devices

0
Now, there is no need to carry different chargers for different products. This Bhubaneswar startup has launched a universal 65W charger using GaN technology...

Karnataka Government Initiative Promises ₹5M To Tech Startups

0
Boosting innovation and entrepreneurship across the state’s vibrant ecosystem, Karnataka launched Elevate 2024 and KAN, offering grants up to ₹5 million for startups. On Tuesday,...

CastNX Tech Startup Secures ₹232M For Power Electronics Growth

0
Eyeing to boost R&D and produce 100,000 variable frequency drives by 2026, Indian power electronics startup CastNX has secured ₹232.2 million from Plutus Investments. CastNX...

Industry's Buzz

Greaves Cotton Targets ₹15,000 Crore Revenue By 2030

0
Chairman Karan Thapar emphasised Greaves' evolution into a complete mobility solutions provider featuring a strong, varied growth model. Greaves Cotton Ltd. (GCL) has evolved from...

TSMC Grows EUV Share To 56%, Outpaces Rivals

0
Powering ahead, TSMC is dominating EUV market with 56% share reportedly. While it solidifies its lead in semiconductor technology, Samsung Foundry looks to compete...

Bangladesh Unlocking Its $1B Semiconductor Export Potential?

0
Speaking on workforce development, policy support, and global partnerships at a US meeting, the Bangladesh Semiconductor Industry Association has ambitious goals. The Bangladesh Semiconductor...

Vajram Electric Aims To Expand Manufacturing And Global Presence

0
Vajram Electric Ltd is securing financing to enhance its manufacturing plant, increase production, and establish itself as a major supplier of international electric vehicle...

India, Kazakhstan Forge Stronger Ties In Electronics

0
Eyeing tech partnerships and new opportunities, India-Kazakhstan business ties soar at the AIFC conference. Can this be a gateway for Indian electronics firms into...

Learn From Leaders

John W. Mitchell, President and CEO, IPC

“India’s Core Focus On 5G, IoT, AI Fosters Need For Advanced Electronics,Components, And Semiconductors”...

0
Will Industry 4.0 supercharge India’s progress in semiconductor and electronics manufacturing? IPC President and CEO John W. Mitchell shared more strategies on the country’s...
Raman M., Co-Founder and CEO, chargeMOD

“Our Goal Is To Achieve Complete Sustainability By 2025-2026” – Raman M. Of chargeMOD

0
In a conversation with Nitisha Dubey from EFY, Raman M. of chargeMOD, elaborated his goal of developing virtual power plants by decentralising power production. Q....

“Adoption Of IoT-Enabled SMT Machines Is Still In Early Phases” – Pradeep Tandon, Director...

0
While electronics are becoming smarter through the Internet of Things, is electronics manufacturing following suit? Pradeep Tandon, Director for India, Middle East, and SAARC...
Dr Yashodhan P. Gokhale, Vice President for Battery Technology, JSW Energy

Charge Forward: High-Voltage Batteries And MSMEs Can Fuel India’s EV Revolution

0
A nuanced explanation of low- and high-voltage EV batteries by Dr Gokhale, Vice President for Battery Technology at JSW Energy, illuminates their advancements and...
Sanjay Gupta, CDO & Global Head of Engineering, L&T Semiconductor Technologies

Can MSMEs Contribute And Profit From The Semicon Boom?

0
Semiconductor manufacturing often requires significant investment, typically feasible only for governments or large corporations. But are there opportunities for MSMEs as well? We spoke...

Startups

Wireless Light-Based Communication With Velmenni’s Technology

0
Velmenni is at the forefront of wireless communication innovation with its pioneering light-based technologies, Li-Fi and LC Link. Founded by Deepak Solanki in October 2014...

Harnessing AI Technology For Efficient Pest Management

0
AI-Genix, an agri-tech startup, is transforming pest management for farmers through advanced AI-enabled systems that precisely target harmful pests. In an industry where pesticides and...

One Charger To Charge All Your Devices

0
Now, there is no need to carry different chargers for different products. This Bhubaneswar startup has launched a universal 65W charger using GaN technology...

Karnataka Government Initiative Promises ₹5M To Tech Startups

0
Boosting innovation and entrepreneurship across the state’s vibrant ecosystem, Karnataka launched Elevate 2024 and KAN, offering grants up to ₹5 million for startups. On Tuesday,...

CastNX Tech Startup Secures ₹232M For Power Electronics Growth

0
Eyeing to boost R&D and produce 100,000 variable frequency drives by 2026, Indian power electronics startup CastNX has secured ₹232.2 million from Plutus Investments. CastNX...