GROWTH AND PERFORMANCE OF CONSUMER ELECTRONIC INDUSTRY IN INDIA: AN OVERVIEW
Journal Title: PARIPEX-Indian Journal of Research - Year 2018, Vol 7, Issue 8
Abstract
The Consumer Electronics and Appliances Industry in India are expected to become the fifth largest in the world by 2025. It’s projected to grow to US $ 400 billion by 2020 and the production is expected to reach US $ 104 billion by 2016. So far India accounts for only 3.5 per cent of the global Electronic Market which is of about $ 1.8 trillion market size whereas the Indian market counts for $ 65 billion approximately. The overall Indian Electronics Industry is projected to grow up to US $ 400 billion in 2022 at a rate of 24.4 per cent due to a better performance of economy in total. GDP of India grew more than 7 per cent in 2015, reasons are to be found for example in higher disposable incomes for middle-class Indians. Demand of electronic products in India is expected to grow at a CAGR (compound annual growth rate) of 41 per cent during 2017-2020 to reach $400 billion by 2020; the domestic production which is currently growing at a CAGR of 27 per cent may touch $104 billion leaving a huge gap for import to the extent of $300 billion. India predicts the growth of its Consumer Electronics industry growth, market trends, progress, challenges, opportunities, government regulations, technologies in use, growth forecast, major companies, upcoming companies and projects etc. in the Consumer Electronics Sector of India. In addition to it, the economic conditions of and future forecast of its current economic scenario and effect of its current policy changes in to its economy, reasons and implications on the growth of this sector. This paper overviews the growth and performance of consumer electronic industry in India.
Authors and Affiliations
A. Abdul Kadhar, A. Abdul Raheem
Keywords
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