The electronics industry is one of the fastest growing industries in India, relying on key industries such as information technology, consumer electronics and telecommunications to drive growth. In recent years, the growth of the electronics industry has been strong. It is estimated that the industrial value will increase from US$69.6 billion in 2012 to US$400 billion in 2020. The market will grow at a rate of 24.4% per year between 2012 and 2020.
India’s electronics industry accounts for 0.7% of the global market. Although it is not worth mentioning in the international context, the demand for electronic products in the Indian market is growing rapidly, and investment is pouring into India to enhance its manufacturing capabilities.
The relatively fast growth rate of the Indian economy continues to stimulate demand for electronic products, while the disposable income of the middle class continues to increase, further contributing to the production of electronic hardware products.
The strong growth has attracted many international brands such as Solectron Group, Flextronics Group, Jabil Group, Nokia Corporation, Ketai Group and Huawei Group to invest in India to seize the Indian market. In the consumer electronics industry, Korean companies such as LG and Samsung have set up factories in India, showing their great interest in the Indian market. Now they have seized a large share of this growing market, operating products. There are TVs, stage lighting equipment, CD/DVD players, audio equipment and other entertainment products.