- India’s US $ 2 trillion economy has emerged as the fastest growing major economy in the world (IMF) as well as the seventh largest in the world.
- India is expected to be one of the top three economic powers of the world over the next 10-15 years.
- Indian consumption could grow 6.7% (FY 2015- 20) and 7.1% (FY 2021-25).
- India's per capita GDP, on purchasing power parity (PPP) has increased to US $ 7,170 in 2017, (IMF).
India Market Info
- The Indian consumer electronics and domestic home appliance market is expected to grow at 9% CAGR till 2022, from US $ 31.4 billion in 2017 to US $ 48.3 billion by 2022
The demand for electronic products is expected to grow at a CAGR of 41% during 2017-2020 to reach US $ 400 billion by 2020.
Domestic electronics production is growing at a CAGR of 27% and may touch $104 billion leaving an import shortfall of around $ 300 billion.
Highlights of 2018
Government Procurement Agencies
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