India's electronics design and manufacturing industry is growing faster than the world average for the simple reason of catching up speed with the huge local demand of electronics products. Lot of MNC OEMS are going for local manufacturing to serve the local demand as well as other global markets. While the semiconductor chip market worldover declined slightly in 2012, India's semiconductor market has grown, Market researcher Gartner has estimated India’s semiconductor consumption reached $8 billion in 2012, a 7.4 percent increase from 2011.
Though India's electronics market affected by global slowdown, the local market did grow due to domestic demand. The three key electronic devices mobile phones, PCs and LCD TVs, which account for over 70 percent of India’s overall semiconductor consumption, LCD TV saw the biggest growth of nearly 45 percent in terms of semiconductor consumption during 2012, while mobile phones’ semiconductor consumption grew by 5.7 percent and PCs declined by 0.3 percent, according to Gartner.
Ganesh Ramamoorthy, research director at Gartner forecasts "Semiconductor consumption in India will reach $9.6 billion in 2013, an increase of 20 percent over 2012” . Mobile phones, PCs and LCD TVs will account for 74 percent of India’s total semiconductor consumption in 2013, as per him.