Electronics, chip firms line up Rs 3-trillion kitty over five years

Encouraged by the government’s incentive schemes, manufacturers of electronics and semiconductors are set to commit close to Rs 3 trillion as capital expenditure over the next five years. Companies, big and small, are setting up shop to make everything from smartphones and laptops to wearables. They are eyeing a huge market for electronics, estimated by the Confederation of Indian Industry, at $500 billion by 2030.

As Ashok Chandak, president, India Electronics and Semiconductor Association (IESA), points out, “it is domestic demand and export potential that is driving the investment in the sector”.