Over the last decade, we have seen a healthy and extremely positive growth in the Gross Domestic Product in India. This has allowed the economy to expand rapidly and has also created a larger, healthier and wealthier middle class which, like most modern industrial societies, is anxious to buy many things. Among the things that are most coveted, apart from fashionable jewellery or fancy cars, are high-technology products. This is creating an unprecedented boom in the high-technology sector of India, one that promises to propel the nation into the forefront of high technology for decades to come.
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Stepping into the Gap
Can we really put a figure on how much demand there is for electronic hardware in India? Well, we can certainly try. Domestic demand in 2009 was approximately $45 billion. That demand continues to increase every year, so that by 2020, some estimates put domestic demand at over $400 billion. Based on current capacity with existing electronics manufacturers, it is estimated that the total production by 2020 will be $104 billion. It doesn't take a fancy calculator to figure out that there is almost $300 billion worth of potential demand that will not be met, unless more companies start producing all of the required hardware. This creates a tremendous opportunity for many inventive and technologically skilled engineers and their companies to jump into the market.
The Government Lends a Hand
What country would not love to have this sort of problem? Tremendous demand, not only internally, but also internationally, coupled with a highly skilled workforce that has a natural tendency to excel in mathematics and engineering. All you have to do is sprinkle a little money over it and voilà, a recipe for success can be instantly created. And the government is doing just that. Under the newly implemented National Policy for Electronics, they're pledging to invest up to $100 billion to achieve these goals. But there are even more ambitious goals involved with this investment: achieving employment in this technology field of over 20 million people by 2020. If they're successful, the cycle will continue to repeat itself, with more people earning better wages, demanding more electronic products, creating more demand. It really makes perfect sense.
The Chips Are in
Everyone is aware that India has a thriving chip design industry. Over 2,000 new chip designs are created every year, and over 20,000 engineers are hard at work coming up with the next best solution for all of our computing requirements. With this industry segment generating over $2 billion a year, the future looks bright. As more and more mobile devices are required all over the world, India's position as a leader in chip design and manufacturing is practically assured.
Enjoying Upward Mobility
Undoubtedly, India's economic prospects are bright. With more and more people able to earn solid and dependable incomes, their disposable income also increases. American Express credit cards offer the convenience and flexibility of making purchases in almost any type of store and are even quite useful for online purchases. Because of the reputation, they also represent an important status symbol which many covet.
American Express credit cards offer prestige and convenience
Stepping into the Gap
Can we really put a figure on how much demand there is for electronic hardware in India? Well, we can certainly try. Domestic demand in 2009 was approximately $45 billion. That demand continues to increase every year, so that by 2020, some estimates put domestic demand at over $400 billion. Based on current capacity with existing electronics manufacturers, it is estimated that the total production by 2020 will be $104 billion. It doesn't take a fancy calculator to figure out that there is almost $300 billion worth of potential demand that will not be met, unless more companies start producing all of the required hardware. This creates a tremendous opportunity for many inventive and technologically skilled engineers and their companies to jump into the market.
The Government Lends a Hand
What country would not love to have this sort of problem? Tremendous demand, not only internally, but also internationally, coupled with a highly skilled workforce that has a natural tendency to excel in mathematics and engineering. All you have to do is sprinkle a little money over it and voilà, a recipe for success can be instantly created. And the government is doing just that. Under the newly implemented National Policy for Electronics, they're pledging to invest up to $100 billion to achieve these goals. But there are even more ambitious goals involved with this investment: achieving employment in this technology field of over 20 million people by 2020. If they're successful, the cycle will continue to repeat itself, with more people earning better wages, demanding more electronic products, creating more demand. It really makes perfect sense.
The Chips Are in
Everyone is aware that India has a thriving chip design industry. Over 2,000 new chip designs are created every year, and over 20,000 engineers are hard at work coming up with the next best solution for all of our computing requirements. With this industry segment generating over $2 billion a year, the future looks bright. As more and more mobile devices are required all over the world, India's position as a leader in chip design and manufacturing is practically assured.
Enjoying Upward Mobility
Undoubtedly, India's economic prospects are bright. With more and more people able to earn solid and dependable incomes, their disposable income also increases. American Express credit cards offer the convenience and flexibility of making purchases in almost any type of store and are even quite useful for online purchases. Because of the reputation, they also represent an important status symbol which many covet.
