Driven by low input costs, India's electronic market will be the fastest growing in the world over the next several years, In-Stat, United States based market research firm, says.In-Stat, estimates that India's electronic market was $11.5 billion last year and is expected to have a Compound Annual Growth Rate (CAGR) of 23% to reach $40 billion by 2010.The "promising" Indian electronics market is driven by low input costs including skilled labour and raw materials, availability of engineering skills and opportunity to meet the demand of the huge market at home.However, the industry also faces major challenges and needs immediate improvement in infrastructure, easing of foreign investment procedures and restructured tariff that now makes domestically manufactured goods more expensive than imported with zero tariff, it says.The Indian electronic industry, it says, is also aided by computer and computer component sectors and is helped by a growing middle class with disposable income.
