India’s electronics industry expected to reach $75 billion by 2017
India’s electronics industry expected to reach $75 billion by 2017 according to a study by Assocham and EY India.
Assocham and EY India due to the governments support for the infrastructure development India’s electronics industry expected to reach $75 billion by 2017.
The are expecting an increase of $14.2 billion from 2015 – 2017 in Electronic components industry in India.
The market is dominated by components like PCB and connectors, which form 30% of the total demand, followed by other components such as resistors and capacitors at 27%, according to the study .
This is due to the increase in foreign investment due to low cost and cheap skilled labor.
The main reason is that Rising manufacturing costs in China and Taiwan are forcing manufacturers to move their manufacturing base to other markets.
Even as global markets are witnessing rapid consumer uptake as electronic content increases,India has a slower adoption as consumers remain highly sensitive to even a marginal increase in product prices.