Indian Consumer Electronics market
BB blog had earlier noted how MP3 players have flooded the Indian market. Now, Market Intelligence company, iSuppli has predicted that the consumer electronics industry in India is poised for major growth in the coming years as the country's more than one billion strong population gains more disposable income along with consumer confidence.
India's consumer electronics market should grow to $4.5 billion in 2007, and will then increase at a compound annual growth rate of 10 percent to hit $6.59 billion by 2011, according to a report from iSuppli. In addition to the boost in disposable income, the firm said that more easily available financing schemes, increased local manufacturing, expanding distribution networks, and sporting events, such as the Cricket World Cup, will all fuel India's growth in the consumer electronics realm.
India's consumer electronics market should grow to $4.5 billion in 2007, and will then increase at a compound annual growth rate of 10 percent to hit $6.59 billion by 2011, according to a report from iSuppli. In addition to the boost in disposable income, the firm said that more easily available financing schemes, increased local manufacturing, expanding distribution networks, and sporting events, such as the Cricket World Cup, will all fuel India's growth in the consumer electronics realm.
Comments