Electronics industry size to exceed $150 b: Exim Bank

A study by the Export-Import Bank of India (Exim Bank) has estimated the size of the electronics industry in India to exceed $150 billion by 2015. Exports of electronic goods are expected to touch $15 billion by 2013-14, said a news release from Exim Bank, quoting an estimate by the Ministry of Commerce and Industry. The share of electronics production in India's GDP has increased from 1.6 per cent in 2001-02 to 1.95 per cent in 2009-2010. This has been due to the high rate of growth of the Indian economy, increasing disposable income and demand from the youth market. In order to grow, this industry needs to design and manufacture “global” products to suit both domestic and global markets. Companies should also invent mass products and price them in such a way that they reach even the rural areas of the country, said the study.