Demand for electronic products in India to grow at CAGR of 41 per cent to reach USD 400 billion by 2020
Demand for electronic products in India to grow at CAGR of 41 per cent to reach USD 400 billion by 2020
India Is Home To A Growing Middle Class Population. With Increasing Disposable Income, Consumer Demand For Electronic Products - Specially Advanced TVs, Mobile Phones And Computers- Has Grown Significantly. PTI | Updated on: 12 Jun 2017, 03:04:33 PM
New Delhi:
High demand for electronics could outpace domestic production, leading to an import requirement of about USD 300 billion by 2020, a report by Assocham-NEC said on Monday.
The report pointed out that while demand for electronic products in India is expected to grow at a CAGR (compound annual growth rate) of 41 per cent to reach USD 400 billion by 2020, domestic production is growing at a CAGR of 27 per cent. This leaves a huge gap for import to the extent of USD 300 billion, the joint