Demand for electronics hardware to increase to USD 400 billion by 2020
Updated: Jul 05, 2013 01:29:03pm
New Delhi, Jul 5 (KNN) Considering that the demand for electronics hardware in the country is projected to increase from USD 45 billion in 2009 to USD 400 billion by 2020, the Department of Electronics and Information Technology has taken various measures to boost the sector and invite investment.
“This provides a huge opportunity for India to become an Electronics System Design and Manufacturing (ESDM) hub to meet its domestic requirements as well as the global requirements,” said an official notification from Electronics India.
It is seen as an excellent opportunity for industrialists, domestic and foreign investors, financial institutions, private equity funds, academia and students.
The Department is therefore keen to hire services of an agency to provide public relations support services to promote investment in ESDM and in this context seeks private sector participation.
Over the last couple of decades India has been the epicenter of consumer demand fuelled by a phenomenal GDP growth. While demand has increased across all sectors, demand for high technology products, specifically electronic products has registered significant growth and going by current estimates, the demand for electronics hardware in the country is projected to increase from USD 45 billion in 2009 to USD 400 billion by 2020, said a study.
The estimated production will reach USD 104 billion by the year 2020, creating a gap of USD 296 billion in demand and production. This creates a unique opportunity for companies in the ESDM (Electronic System Design & Manufacturing) sector to look at India as their next destination to cater to the domestic Indian demand as well as act as an exports hub.
Accordingly, the Government has initiated several initiatives for the development of electronics sector in the country.
The Government has recently approved National Policy on Electronics (NPE). One of the important objectives of the NPE is to achieve a turnover of about USD 400 Billion by 2020 involving investment of about USD 100 Billion and employment to around 28 million by 2020.
This interalia, includes achieving a turnover of USD 55 Billion of chip design and embedded software industry, USD 80 Billion of exports in the sector.
Moreover, the policy also proposes setting up of over 200 Electronic Manufacturing Clusters. Another important objective of the policy is to significantly upscale high-end human resource creation to 2500 PhDs annually by 2020 in the sector. (KNN)
“This provides a huge opportunity for India to become an Electronics System Design and Manufacturing (ESDM) hub to meet its domestic requirements as well as the global requirements,” said an official notification from Electronics India.
It is seen as an excellent opportunity for industrialists, domestic and foreign investors, financial institutions, private equity funds, academia and students.
The Department is therefore keen to hire services of an agency to provide public relations support services to promote investment in ESDM and in this context seeks private sector participation.
Over the last couple of decades India has been the epicenter of consumer demand fuelled by a phenomenal GDP growth. While demand has increased across all sectors, demand for high technology products, specifically electronic products has registered significant growth and going by current estimates, the demand for electronics hardware in the country is projected to increase from USD 45 billion in 2009 to USD 400 billion by 2020, said a study.
The estimated production will reach USD 104 billion by the year 2020, creating a gap of USD 296 billion in demand and production. This creates a unique opportunity for companies in the ESDM (Electronic System Design & Manufacturing) sector to look at India as their next destination to cater to the domestic Indian demand as well as act as an exports hub.
Accordingly, the Government has initiated several initiatives for the development of electronics sector in the country.
The Government has recently approved National Policy on Electronics (NPE). One of the important objectives of the NPE is to achieve a turnover of about USD 400 Billion by 2020 involving investment of about USD 100 Billion and employment to around 28 million by 2020.
This interalia, includes achieving a turnover of USD 55 Billion of chip design and embedded software industry, USD 80 Billion of exports in the sector.
Moreover, the policy also proposes setting up of over 200 Electronic Manufacturing Clusters. Another important objective of the policy is to significantly upscale high-end human resource creation to 2500 PhDs annually by 2020 in the sector. (KNN)
Loading...
