Indian Electronics Industry – Big Boom Upcoming

Electronics industry encompasses numerous sub segments in itself; it includes home and kitchen appliances, smartphones, industrial electronics and so much more. According to recent study, the Indian electronics and hardware industry is expected to grow at a compound annual growth rate (CAGR) of 13-16 percent to reach US $112-130 billion by 2018 from the current level of US $75 billion. The expected CAGR is estimated at this level owing to rising demand, growing disposable incomes, declining prices of electronics, wider broadband connectivity and e-governance programmes, said the study - 'Turning the Make in India dream into a reality for electronics and hardware industry', conducted by Assocham and Ernst and Young (EY).

India is being viewed as a major manufacturing hub owing to its talented and skilled labor, English speaking population and friendly government policies. According to the study, growing reliance on imports for electronic components and rapidly increasing demand for electronic products makes it further vital to enhance and strengthen India's electronics manufacturing capabilities. "Around 50-60 percent of the demand for electronic products and the demand for nearly 70-80 percent of the electronic components market is fulfilled through imports," the study added. Thus for the electronics sector to grow exponentially, there are enough avenues for manufacturers to invest in the Indian market. "Companies are looking at increasing their manufacturing base in India to serve domestic markets and also the Middle East, Africa and SAARC countries." 

Burgeoning online shopping platforms are propelling the growth of smartphones and home & kitchen appliances like anything in India. Not only the metros, but the people in tier II and tier III cities are also not hesitant to try their hands on e-shopping. Major factors for this dynamic change are: too many options at great prices, fast delivery, hassle free returns and refunds, amazing discounts and deals offered on various festivals etc.

For instance, Shopclues.com; Shopclues firmly believes that a customer is most satisfied when the products he buys are most competitively priced across the industry. To ensure a delightful shopping experience, the company tries its best to bring merchants – big or small – who are able to offer best prices to customers. For that, they have a rigorous merchant selection process; merchants who fare well on the aspects of product purchase, quality, authenticity and price are only approved. Basically the company brings the best of the best on its platform keeping buyer satisfaction at the highest pedestal.

Shopclues Coupons & Offers attract the buyers the most. Firstly, the products are very reasonably priced on the site and further discounts make them more attractive. Shopclues coupon codes are available on their own website and at other portals too. All a user has to do is apply these codes while making a purchase and the stipulated discount will show on his final bill. Sometimes these offer and discount codes make one avail discount on discounted prices as well.

Source: elgento

Similarly, Flipkart is increasingly becoming hot favorite for electronics shopping among households.Flipkart operates in multiple categories including: Mobiles, electronics, home appliances etc. the company has exclusive tie ups with certain companies. These tie ups or strategic alliances have made the leading portal exclusive distributor of those companies’ products for Indian customers.  For instance, Motorola Mobility. Motorola Mobility was previously owned by Google and then was handled by Lenovo. But now Flipkart is its exclusive business partner for the launch of its budget Smartphone series Moto G in India. This tie up commenced in February 2014; when it was launched, over 20,000 units were sold within hours through Flipkart online shopping website. After this successful launch, Flipkart partnered with Motorola Mobility to launch more of models like Moto E, Moto X, Android Smartphone etc.

Source: static.digit.in

Same goes with high-end smartphone Xiaomi Mi3 produced by Xiaomi Tech. Xiaomi Tech launched its sale in India through exclusive partnership with Flipkart in 2014 wherein the first batch was sold out within 39 minutes of the launch. Around 150, 000 users and buyers pre-registered themselves for the phone’s next batch of sale. Even now, Xiaomi phones are very much in demand. There are pre-registered buyers for them and the batches get sold off within seconds 
of the launch.

Flipkart offers on mobiles are extended to customers which further boost the sales of mobile phones online. There are also various deals and discounts which offer cashbacks, free accessories (headphones, mobile covers etc) and reward points to delight the customers.