Market growth in electrical and electronics goods in India.
The electronic market is among the largest in India and in the world. The industry will reach around $ 400 billion in 2020. The market is competitive and has scope in every sector and also in the export category. The growth rate is around 24.4% from 2012- 2020. The electronic industry comprises of computers, devices, broadcasting equipment, electronic components, strategic electronics, communication equipment and more. The industry is currently valued at Rs. 340 billion. There is much scope even for exports. Various foreign investors are interested in investing in the country in the electronics sectors. The electrical equipment industry has also increased due to the demand for the electrical equipment in the market. The heavy electrical equipment is mostly set up by the government with the help of foreign investors.
Scope for the industries in India
The prospects are bright for the electrical, electronic and optical industries here. The customer base is growing, and increased demand for high quality optical products like photographic and cinematographic equipment is seen in the country. The power sector in India is undergoing significant changes and has redefined the outlook of the industry. The government is focusing on ‘power for all’ and has also been working to provide electricity to all. There are several global and domestic companies who have invested in the electrical sector and committed to generating 266 GW of solar, wind, biomass-based power in the country over the next few years. The industry has attracted FDI of around $ 9.7 billion from 2000 to 2015. Various small and large units can be seen in this sector.
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