Learn about the market growth and exports of the electronics industry

The electronic industry is one of the fastest growing industries in India. This is true in both the terms, production and exports. The electronic sector comprises of industrial and consumer electronics, communication, computers, broadcasting equipment and electronic components.
In the technology driven start-ups, India ranks third in the world. Over 5,000 technology start-ups were established in the country in 2017.
The Indian electronics and hardware industry is expected to grow at a compound annual growth rate (CAGR) of 13-16 per cent to touch US$ 112-130 billion by 2018.
The Electronics and Computer Software Promotion Council (ESC) was formed to provide a platform for India’s IT and electronics industry. With exports to more than 200 countries, ESC has successfully steered the direction of India’s electronics and software exports.
The demand for electronic devices in expected to rise 400 billion dollars by the year 2020. With its Make in India initiative, the government is taking steps toward manufacturing the electronic devices, products in the country itself. This would curb the imports of the same. The government is focusing on making the electronics industry more competent in the international market. It has plans to establish production cluster, development, and research with the collaboration of foreign companies. It is also working on improving the infrastructure for the industry. Also, the work on easing of foreign investment procedures with the tariff is going on.
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