India semi industry forecast to witness tremendous growth

Indian semiconductor industry has been witnessing tremendous growth over the past few years with rising demand for mobile handsets and PCs. On the back of prolific expansion of products and services, such as set-top boxes, wireless handsets, 3G rollout, WiMAX deployment, notebooks, and smart cards, it is expected that the market will be expanded at an accelerated rate in future. Other segments like digital camera, LCD TV, and storage flash memory products are some of the major prospective consumers to fuel further the future growth. Considering all these factors, the Indian semiconductor market is anticipated to grow at a CAGR of around 22% during 2012-2015.