India's fast growing electronics mfg sector

India's fast growing electronics mfg sector

By agencies   |   Thursday, 25 May 2006, 07:00 Hrs   |    1 Comments
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MUMBAI: India is showing all signs of becoming a significant electronics manufacturing location, despite the barriers that have to be overcome.

According to Frost & Sullivan, the Indian electronics market is forecast to grow from $28.2 billion in 2005 to $363 billion in 2015, rising at 5.5 times the growth rate of global electronics equipment production during 2010 and 2015.

The study says, "If this kind of growth happens, then we are going to see a corresponding rapid growth in the Indian contract manufacturing scene, demand has not always been met by local manufacturing. It has been cheaper to import. But we are beginning to see some real changes in that."

The study points, "They always seem to have a combination of three elements: their barely concealed dismay at the state of Indian infrastructure from the moment they arrive, usually followed by interviews with leading names in business that are extremely positive about the future and finally a brief examination of what needs to be put right for India to become more attractive as a manufacturing destination."

India has a largely invisible category of smaller manufacturers who are working hard to reach global standards and who merit attention, the report said.

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