New Delhi, Apr 13 (UNI) Witnessing a CAGR of 30 per cent, the electronics hardware industry's turnover, including both domestic productions and imports, is poised to touch 360 billion dollars by 2015, according to the projection made by an industry chamber.
The PHD Chamber said the government should take proactive steps to take the electronics equipment consumption in the, which is growing close to 30 per cent CAGR will be one of the fastest growing segments in the country, creating large scale employment opportunity across the country,'' PHD Chamber Production in the country is little over 16 billion dollars and the rest of the consumption is on account of imports.
''It is difficult to precisely estimate the electronics hardware imports since most of the items that are imported into the country such as capital goods and intermediates contain electronic components and gadgets,'' the Chamber said.
The major components of domestic production of electronics hardware industry are strategic electronics, components, consumer electronics, computers, communication and broadcasting equipment and industrial and other electronics.
''Our efforts should be to take the domestic production to 150 billion dollars by 2015 and to increase the global share to five per cent,'' the industry body said.
To emerge India as an electronic hardware hub, the nation should focus on two areas of frontier technology-micro chips and nano technology.
The chamber said the country should come out with an electronic hardware policy to attract investment from abroad, promoting joint ventures and setting up greenfield investments.
''Absence of clear-cut policy on hardware industry, particularly relating to export benefit, has adversely affected such investments,'' added.
It said there should be national blue print for promoting embedding of software in electronics hardware in the country itself.
India can also be developed as a hub for repairing electronics hardware equipment and instruments, the Chamber said, adding that for instance, repairing of mobile phones are costlier in most of the countries and in such scenario, these works can be undertaken with considerable cost advantage even by small time mechanics in the country.
''To promote such unorthodox business in the country, there should be facilities for easy import and re-export of goods and machinery meant for repair,'' the chamber said.
UNI MP SG RN2025