In December 2021, the Center announced a Rs 76,000 crore program for semiconductor and display manufacturing. The scheme is considered to be very successful as India has approved single chip (Tata Electronics) and three chip package (US based Micron, Tata Electronics & CG Power) factories.
Over the past two and a half years, the focus has been solely on the semiconductor ecosystem. The display sector has been largely neglected despite India being the third largest consumer of display products in the world (accounting for 7% of global revenue)
According to research firm Markets and Markets, the global display market is expected to reach USD 187.8 billion in 2023, with an expected growth rate of 3.5% CAGR through 2028.
Also Read:
- India to discuss new research station in Antarctica at Kerala climate
- India-France negotiations on navy Rafale’s to begin this week.
This increase in demand is attributed to the widespread adoption of OLED panels in various industries such as automotive industry, healthcare, television, digital signage, integrated displays and the emergence of foldable and flexible display technologies.
India relies heavily on China for its display needs as no domestic display manufacturing industry is currently established in the country. Super plastronics private limited, a contract manufacturer of televisions in India, is sourcing display panel from China.
Avneet Singh Marwah, CEO, Super Plastronics Pvt Ltd, told Business Today, “This dependency is not unique to SPPL as the entire global market is heavily dependent on China for open cell manufacturing. All major manufacturers of open cells are based in China, making it a single source for these critical components.
