The government allows 100% FDI under the automatic route in the ESDM industry. A large pool of engineers, lower manufacturing costs will spur the growth. Government’s support to skill development in ESDM, creation of new manufacturing hubs with special incentives, ‘Make in India’ & ‘Digital India’ initiatives, M-SIPS & EDF schemes further accelerate growth in this sector. The Electronic & Electrical industry market is all set to increase with a CAGR of 41.4% to $ 400 Billion in 2020.
With COVID19, most of the manufacturing units in China are either closed or working with reduced capacities. Owing to the supply shortages, Chinese component makers have hiked prices by 2-3%.
The effects of the pandemic would ease in the coming time for Electronic & Electrical industry. Indian electronics industry will see a positive picture.
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