Your access to the promising market of India
India’s high growth rates already make it one of the world’s most attractive markets. By 2050, India is expected to have the world’s third largest economy. The electronics industry is recording the strongest growth in India as well as worldwide.
Electronic hardware manufacturing in India to reach USD 155 billion by 2015. The global market for electronic hardware will increase by 30 percent to USD 320 billion by 2015.
India’s share in the global semiconductor industry is estimated to be around EUR 26.5 billion by 2015, accounting for 6.5 percent of the global semiconductor revenues there are approximately 125 companies involved in designing semiconductors in India.
India's total semiconductor consumption, met chiefly through imports is likely to exceed USD 36 billion by the year 2015. Electronics whether it is office automation, consumer electronics, medical electronics, telecommunications or industrial automation will require more of the semiconductor industry in India.
The contract manufacturing/electronic manufacturing services (EMS) sector in India has received a strong stimulus in the last few years, boosted particularly by government initiatives to attract investments.
India also offers high potential for electronic equipment manufacturing companies. The estimated production of EUR 113 billion in 2015 is expected to create an opportunity of EUR 11.33 billion for semiconductor companies and also for EMS companies.
A number of multinational companies now have a presence in India’s EMS segment. These include Celestica, Elcoteq, Foxconn, Flextronics, Jabil, Solectron, who have set up operations in the last couple of years.
SMT pick & place market to grow by 20 to 25 percent with India becoming a strong hub for electronics manufacturing, the demand for surface mount technology (SMT) equipment is also witnessing robust growth.
Department of Electronics and Information Technology (DeitY) through numerous industry promotion programs continues to give a fillip to the IT and Electronics Hardware sector. Some of the major promotional activities in the field of Information Technology and Electronics Hardware Manufacturing include the following:
- Creating the right infrastructure in the country that is conducive to growth.
- Broaden the markets and create a level playing field.
- Provide R&D expertise and training programs.
- Assist in building a better business management capacity and strengthening competitiveness of organizations.
- Providing latest information on industry trends, management models, market and advanced technologies.