Big Scope in IT & Consumer Electronics
Technology is something without which businesses cannot flourish in today’s times. And the boom in the IT industry in India ensures that the processes are made easier, and such technologies are introduced which would further ease business communication and processes. The IT industry has not only been in demand for businesses but the demand for it has increased enormously in sectors like education, communication, technical science and many more sectors. According to reports of over the years of 2010 to 2015 the industry has seen an enormous growth of 15 percent. The growth has been magnificent and has been largely beneficial to the growth of the Indian nation. The growth in the IT sector in India has been 3 to 4 times higher than the global IT sector growth, according to reports. The growth which has been seen in the nation is expected to see a further growth of 9.5 percent by the year 2020. Talking about the Electronics Sector which has also expanded enormously, the demand stood at USD 45 billion in the year 2008-09 in India and it is estimated that the demand will reach USD 400 billion in the year 2020. This would create a demand supply gap of about USD 300 million, exceeding those of the oil industry imports.
The markets have now become global, and progress is taking place at a large level. With the unbeatable growth of the IT and Electronics sector in the Indian market, the market is becoming a safer and a much more profitable place for foreign investments. The Indian market is now being considered as the fastest growing market amongst the countries in the world. The economy being 7th largest and the enormously increasing IT and electronics sector promises a positive growth for investors considering long term investments in the Indian Market by 2020. Let us see who are the early mover companies and brand to grab the Indian Market significantly….!!