India is one of the largest consumer electronics markets in Asia Pacific Region
SNAPSHOT Amplifying growth The Indian Electronics industry is being driven by macro factors such as growing middle-class population and rising disposable income. In addition, declining electronics prices and adoption of high-end technology devices is leading to an uptick in consumption of electronics devices. Furthermore, technology transitions such as the rollout of 4G/ LTE networks and IoT are driving accelerated adoption of electronics products. Initiatives such as ‘Digital India’ and ‘Smart City’ projects have raised the demand for IoT in the market. Similarly, the digital banking sector like wallet players and payment banks will raise demand for POS and VSAT-enabled mobile ATMs, which will further give a fillip to the growing industry.