Wednesday, June 12, 2013: Department of Electronics and IT (DeitY) has raised the investment target for the electronics industry to US$ 5 billion for this fiscal, as it has already received investment proposals worth US$ 1 billion. Informing this at a conclave on electronics system design and manufacturing (ESDM), organised by Indian Chamber of Commerce (ICC) in New Delhi, J Satyanarayana, secretary, DeitY, said, “The demand for electronics hardware in India is growing exponentially and this provides a huge opportunity for the country to become an ESDM hub to meet not only the domestic requirements but also cater to exports.”
DeitY has already received proposals from sectors like automotive electronics, handheld devices, consumer electronics and consumer appliances, strategic electronics, LED lights, and many others.
“Now, the awareness about the opportunities in the ESDM sector has increased. About a year back, many had doubts if India could become a competitive destination to do electronics design and manufacturing. More and more companies are coming up with projects to avail benefits from the recent policies for the electronics industry,” Satyanarayana said.
DeitY has a target of setting up 10 electronics manufacturing clusters (EMCs) in the country with six proposals already in final stage. “We hope to clear these proposals very soon,” Satyanarayana added.
According to an India Electronics Semiconductor Association (IESA) and Frost and Sullivan report, Indian ESDM industry is growing at 9.9 per cent CAGR—from US$ 64.6 billion in 2011 to an estimated US$ 94.2 billion in 2015.
Electronics Bazaar, South Asia’s No.1 Electronics B2B magazine
