Electronics production at Rs 96,950 cr in FY03

By SiliconIndia   |   Tuesday, 20 May 2003, 07:00 Hrs
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NEW DELHI: India's electronics production is estimated to have touched a whopping Rs 96,950 crore during the year ended March 31, 2003, an increase of 21 per cent over the previous year, according to the IT Department.

During 2002-03, electronics production across various segments like consumer electronics, industrial electronics, computers, software exports and domestic software, stood at Rs 96,950 crore as against Rs 80,124 crore in 2001-02, as per the figures released by DIT in its latest annual report.

"The software and services industry continues to be one of the fastest growing sectors in the Indian economy with a growth of over 26 per cent during 2002-03 and a turnover of $12.7 billion (Rs 59,900 crore) and exports of $10 billion (Rs 47,500 crore).

While the software industry logged a 26 per cent growth, the hardware sector grew 12.5 per cent.

"While software is doing well in the country, the production in hardware industry is not able to keep pace with demand," it noted.

The report traces the electronics production growth profile over the past five years growing from the level of Rs 41,140 crore in 1998-99 to Rs 52,450 crore in 1999-00, and to Rs 68,450 crore in 2000-01.

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