The Indian Electronics Industry is one of the largest in the world and is expected to reach a turnover of US$ 400 billion in 2022, up from US$ 69.6 billion in 2012. According to an Indian Brand Equity Foundation (IBEF) report, the market is projected to grow at a compound annual growth rate (CAGR) of 29.4 per cent during the period 2015-2020.
Production of Electronics
Total production of electronics hardware goods in India is estimated to reach US$ 104 billion by 2020. The demand for 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, according to the joint study brought out by ASSOCHAM and NEC.
With demonetization, the demand for POS devices and mobile devices has increased and hence the Electronics industry has ample leeway for growth.