In a bid to meet increasing demand, India is expecting investments worth $56 billion in the electronics sector by 2020. The country has permitted 100 percent foreign direct investment (FDI) in the electronics sector.
“We must have an electronics output of $400 billion a year by 2020 to meet domestic demand and generate exports worth $80 billion“, told SK Marwaha, Director in the Department of Electronics and IT Ministry to Press Trust of India.
Marwaha spoke during the ‘India Connect Business Forum’ organised at the ongoing CommunicAsia2016 exhibition, which is being held from May 31 to June 3 in Singapore.
Due to demand for hi-tech products in the country, Marwaha also said there was a need to increase output in the electronics sector by $300 billion in the next four years. At present, the demand for electronics in India touches $100 billion.
Till date, the Indian electronics sector has received investments worth $16 billion, PTI added. India had a special pavilion in the CommunicAsia Summit was represented by 54 companies in the mega exhibition covering broadcast, communications and related enterprises.
Some of the companies participated in the event were Neosoft, Cohesive Technologies, NavSoft, FrogCellSatAlepo.
Sameer Adhyapak, Project Manager, Neosoft said, “We provide software as a service and our main look-out in the event is to get more channel partners across the Asia Pacific region.”
Hanif Sohrab, Chief Sales Officer said, “We are mainly into boosting the mobile signals which is a key challenge in India. With this summit we are eyeing more opportunities across the key telcos in the APAC region.”
