India’s electronics system design and manufacturing (ESDM) sector continue to be a critical force for growth, innovation, and disruption, across multiple segments. Perhaps nothing demonstrates this more clearly than the widespread application of electronic components and products in sectors like lighting, automotive, communications, etc. Electronics has become an agent of change in these segments, enabling the creation of products that enhance efficiency. India has a large pool of skilled manpower and has the third largest pool of scientists and technicians in the world. The electronics market of India is one of the largest in the world and is anticipated to reach USD 400 billion by 2020. India ranks third among global startup ecosystems. Strong design and R&D capabilities in auto electronics and industrial electronics.
The electronics industry is going through an exciting phase due to revolutionary changes in technology, the launch of innovative products and the challenge of global competition. This has made it necessary for electronic product and component manufacturers to focus on continuous improvements in order to stay ahead of the pack. Investments in Electronic Manufacturing stood at INR 1.57 lakh crores in 2017, registering a growth rate of 27% over the year. Electronics System Design and Manufacturing Sector (ESDM) envisaged achieving “Net Zero Imports” by 2020. 65% of the current demand for electronic products is met by imports which presents an opportunity for import substitution.
The growing customer base and the increased penetration in Consumer Durables Segment have provided enough scope for the growth of the Indian Electronics Sector. Also, the digitization of cable could lead to increased broadband penetration in the country and open up new avenues for companies in the Indian Electronics Industry. Huge domestic demand and rising disposable income. Also, there is a huge consumption of electronics products in the Middle East and in emerging markets such as North Africa and Latin America. The sector comprises of Consumer Electronics, Industrial Electronics, Electronic Components, Strategic Electronics, Semiconductor Design, and Electronic Manufacturing Services.