What is contribution of electronics sector to Indian GDP?

Answer 1

Role of Electronics and Hardware Industry in India GDP

The Role of Electronics and Hardware Industry in India GDP is to ensure the growth of the other industries and contribute to the growth of the Indian economy. The Electronics and Hardware Industry depends on the manufacturing of the semiconductors.

The favorable conditions in India, friendly Government policies have made India one of the leaders in electronics and hardware.

Role of Electronics and Hardware Industry in India GDP-Importance

Role of Electronics and Hardware Industry in India GDP is crucial for the development of the IT and the ITES sector in India. Electronics and hardware are the major components of several industrial sectors such as Information Technology sector, Telecommunication sector, Automobiles sector, Electronic appliances sector, Special Medical equipments sector, etc.

India-Hub of Electronics and Hardware Manufacturing

• India has become one of the favored destinations pertaining to the electronics and hardware
• The growth of the Electronics and Hardware Industry in India due to the favorable conditions for the electronics industry
• The Government policies are also helping the growth of the electronics and hardware industry
• The Policies pertaining to investments are attracting foreign players in this industry
• The manufacturing of the semiconductor is the most important area pertaining to the electronics and hardware industry
• The semiconductors are used in all kinds of electronic equipments such as cell phone, personal computers, laptops, other implementations in automobile sector, medical equipments, etc
• India Semiconductor Association (ISA) is the apex agency pertaining to the semiconductor companies and chip design firms in India

Advantages of Indian Electronics and Hardware Industry

• Multi national corporations can provide to the growing electronics market in India at lower costs by manufacturing semiconductors in India
• India has the potential to come up as the next electronics and hardware destination in the world
• The chip design and other complex components electronic device can be acquired from the Indian companies at low cost
• India is growing up to be one of the biggest markets for electronic instrumentations
• The consumption value of electronic equipment in India in 2005 is estimated as US$ 28.2 billion
• The main factor pertaining to the success of the Indian Electronics and Hardware Industry is the growth in the market demand
• The growth in the manufacturing of semiconductor is the key driver in the emergence of India as one of the leaders
• The advantages pertaining to the taxes and duties, the access to technical and engineering expertise, proper manufacturing facilities, lucrative investment offers, etc

Electronics and Hardware Industry in India GDP-Rising steps

• Role of Electronics and Hardware Industry in India GDP growth has been phenomenal
• India provides immense opportunities for electronic instrumentation manufacturing
• The projected production within the year 2015 would worth US$ 155 billion
• The development of the electronics and hardware consumers ensures the growth of the industry