With the increasing consumption of electronic items in the country, the hardware manufacturing industry in India is poised to touch $155 billion by 2015.
"As per study made by Frost and Sullivan, the (global) market for electronics hardware is expected to grow by 30 per cent to $320 billion in 2015," Department of Information Technology Secretary Jainder Singh said at the Componex Nepcon exhibition here today.
"There is a potential for the domestic hardware manufacturing to grow to $155 billion in 2015," he added.
Indian electronic hardware production increased from Rs 43,800 crore in 2003-04 to Rs 80,800 crore in 2007-08, with a cumulative annual growth rate of 16.6 per cent, he added.
Increased consumption of mobile phones, computers and televisions is driving the domestic demand for the industry in India.
"While the sales of PCs have reached 7.3 million units a year, about 8-10 million mobile phones are sold. The market for colour televisions has also increased to about 15 million units a year," he said.
Singh noted that with the relaxation in import policies and progressive reduction in duties, import of manufactured components has increased, which has in turn suppressed the domestic demand.
Agencies
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