Get latest articles and stories on Business at LatestLY. The computer market in India is expected to grow 5.1 per cent annually over the next five years, said S&P Global Market Intelligence in a report.
Agency News ANI| Nov 03, 2024 07:08 PM IST
New Delhi [India], November 3 (ANI): The computer market in India is expected to grow 5.1 per cent annually over the next five years, said S&P Global Market Intelligence in a report.
According to the financial information and analytics firm, India’s imports of laptops climbed 10.8 per cent year over year in the three months that ended in August, led by shipments linked to Apple.
If the assembly of laptops expands in India, imports of components may do so too, with mainland China and Hong Kong accounting for sizable imports of computer components (excluding semiconductors) in the 12 months to August 2024.
“That may lead the government to incentivize reshoring of component manufacturing as well as assembly,” the recent report noted.
The market intelligence firm believes that India may reintroduce rules limiting imports of laptops during 2025, having previously scaled them back in 2023.
“Other policies including production-linked incentives may be considered to expand the domestic manufacturing industry,” the report asserted.
India’s regulatory risks have fallen below its peers in recent years, making reshoring there more attractive, it noted.
India is gradually becoming a hub for electronics manufacturing, particularly smartphones and laptops. (ANI)
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