West Asia continued to remain India's leading destination for consumer electronic goods, exports doubled to $175 million in 2005-06 from $90 million in 2004-05.
In 2006, West Asia continued to remain India's leading destination for consumer electronic goods, as exports doubled to $175 million in 2005-06 from $90 million in 2004-05. Business Standard news identified the UAE the region's hub for re-exports as being the major exports push.
Related news published on Gulf News quoted Kamal Vachani, regional director, Electronics and Computer Software Export Promotion Council (ESC) revealing, "We expect much bigger growth as the consumer electronics exports are on the rise from India, particularly color televisions. Many OEMs in the UAE are importing their requirements from India and are keeping India as one of their major suppliers for CTVs besides China".
The estimated growth in consumer electronic exports for the past five years is at an annual rate of 27.33 percent. In 2005-06, color televisions continued to remain the leading export. In terms of value, the increase in exports reached USD 190 million from USD 93.25 million in 2004-05. Exports were primarily headed for Italy and the UAE.
Middle class' growth was accompanied by the demand for electronics and home appliances globally, more so in countries geographically located close to the Gulf. This means that UAE has the potential for further development in electronics export. UAE is experiencing surge in electronic products' sales, owing to competitive prices. Thanks to the diversification of import sources and introduction of new products, massive demand has been created in the Middle East.
There is also a strategic shift by Indian consumer electronics companies beyond traditional service lines for bagging major contracts and entering new markets. Prospects are promising for greater export growth in the sector with India possessing a large technical labor force, reputed engineering institutions, large English-speaking population and dependable infrastructure.
According to a RNCOS research analyst, India has emerged as one of the preferred destinations for consumer electronics' sourcing. When compared to other low cost locations, India scores high for a number of integral parameters among which are government support, quality of labor pool, English language proficiency, cost advantage, strong customer relations, and exposure to new technologies. Further, boosting India's strength is the industry's renewed emphasis on quality software and processes.
Related Market Research Reports:
Global Portable Electronics Market
Chinese Consumer Electronics Market till 2011
Consumer Electronics Market in Brazil (2007-2011)
