India on way to become hardware manufacturing hub

New Delhi, Sep 5 (UNI) The Indian electronics equipment market will touch 360 billion dollars from the present level of less than 30 billion dollars in the next ten years, industry experts said today.

''Hardware manufacturing has lagged far behind software and services due to lack of supportive eco-system. The scenario is undergoing rapid change with the shifting of focus towards manufacturing,'' Elcomp India Organising Committee Chairman Om Wadhwa told reporters here.

Indian imports of semiconductor products stand at Rs 2000-2500 crore, with the total production of Rs 1200 crore, he said.

The three billion dollar semiconductor facility in Hyderabad will meet the rising demands of the semiconductor devices, he added.

In recent years, market growth has been accelerating exponentially in computers/IT products and telecom. This has attracted large corporates to invest in hardware and Indian electronics anufacturing. India is well on its way to becoming a hardware manufacturing hub, Mr Wadhwa added.

Japan, Singapore and Thailand have shifted their attention towards India and are planning for joint ventures to set up manufacturing units here.

In this direction, a Memorandum of Understanding (MoU) was signed here today between Electronics Industry Association of India and Association of Electronics Industry of Singapore.

UNI DKS PV BST1925