With the announcement of the Budget, the electronics industry is once again abuzz with discussions about the industry’s development, its potential growth, lack of government policies, and so on. It is rather unfortunate that the potential for the electronics industry to be an enabler for GDP growth has still not attracted the attention of our policy makers. With the electronics industry expected to grow from US$ 45 billion in 2009 to over US$ 350 billion by 2020, the initiatives from the government are definitely not significant enough. By not addressing some of the long standing demands of the industry, another year is lost for a breakthrough in manufacturing, in India.
In recent years, the electronics industry has been growing at a brisk pace. Despite being comparatively small as a constituent of the US$ 1.8 trillion global electronics market,
the demand in the Indian market is growing rapidly and investments are flowing in to augment manufacturing capacity. The Indian electronics market has started gaining global attention for the immense opportunities that remain untapped. A burgeoning domestic market as well as the increasing export opportunities has placed India’s electronics industry in an enviable position on the global map.
With all these encouraging developments in the industry, investors, manufacturers, channel partners and the startups can wait and watch for the following top six
sectors in 2011, which are poised to be the big growth drivers, as per Frost & Sullivan. These top growth drivers are:
- Mobile handsets and wireless infrastructure equipment
- LED lighting
- Automotive electronics
- Defence and medical electronics
- Consumer electronics
- Smart cards
These sectors are not only emerging fast but also have tremendous growth potential. Moreover, there are immense untapped business opportunities in these sectors.
