Elec, IT hardware ind to boom in India [View All]

[OhioChick]

PTI< SUNDAY, NOVEMBER 05, 2006 10:55:38 AM>

NEW DELHI: High economic growth, large base of young consuming population, rising disposable incomes and explosion in retail format will see the consumer electronics and IT hardware industry in India touch a whopping Rs 7,00,000 crore in revenues by 2015 from Rs 95,700 crore in 2005.

According to a study by Consumer Electronics and TV Manufacturers Association (CETMA), the contribution of electronics hardware to GDP is expected to rise from 1.8 per cent in 2005 to 12 per cent by the year 2015.

Unveiling the study, CETMA's vice-president (North) Ravindra Zutshi pegged the annual market growth rate at 22 per cent, but said the industry's contribution in India was far lower compared to other countries.

"The share of electronics hardware industry to GDP is 10 per cent in China and as much as 15 per cent in Thailand. This makes India a big opportunity for companies," Zutshi, who is also Deputy Managing Director of Samsung India, said.

http://economictimes.indiatimes.com/articleshowcnews/325421.cms