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The Entertainment Electronics industry is one of the fastest growing industries right from its origin. The profit brought out of this is much more compared to other industries. India is one among the largest economies in the world and has a good GDP among emerging economies. It has a very good prospects growth for this industry. The birth and growth of this industry in India is quiet interesting. The start of this industry here dates back to early 1960 's where Electronics was primarily focused to develop in the filed of communication systems for radios, telephony, telegraphy, and television broadcast and defense.
A lot of importance was given for the augmentation of defense capabilities. There had been a little growth prospects for this industry till then. Till 1980 's the electronic sector was government owned. With large earning population by now and the potential consumer demand apart from the others, attention towards entertainment was almost unlimited and hence a strong growth performance for this was expected. By this time domestic players began to sell of their products to a considerable level. Solitaire and Dyanora's were a few among the people's choice.
The liberalization of the economy by 1991 has helped to a rapid growth of this particular industry. This helped the Electronics Entertainment industry in India as one of the most important and emerging one. From there on the growth of the industry took off due to economic changes resulting in the globalization of the economy. This industry recorded a very high growth in subsequent years. By 1990 's, Private, foreign investments were encouraged. This was the starting point of forex to pour in.
Easing the Norms for the investment, reduction in duties and de licensing of several consumer electronic products marked attraction of foreign investors. The domestic circle response was also favorable to the government policies but it had to face a tough competition from their foreign counter part. Allowing this industry for the private sector enabled entrepreneurs build industries to meet suppressed demand. Improvements in this industry have not been only to a particular area but in each and every process right from acquiring the raw materials to the packed product. Long steps have been made in the area of consumer products, communication, networking all entertainment products into one part. As the number of players increased domestic players were not able to cope up with the foreign technology especially with Sony, toshiba in the market.
Many had to be closed down and the foreign players under their own brand name took many up. But need for this industry never went down. This resulted in significant market growth by late 1990 's. The sales of these basic units increased three-fold. The main area of focus has now turned to design, Compact packing and to provide vale added service. Analyzing the strength of this industry it has a competitive advantage by providing high quality-low price, large trained excellent manpower poll.
The key strength being developed infrastructure as compared to the other industries, which could be set up in a matter of time. The software technology parks that have been established are providing the necessary software orientation for this industry. The entry of high ranked players, the Indian Electronics Entertainment industry has grown tougher and has won successfully and has boomed from its origin till now. Some players such as Samsung, LG, Sharp, Sansui are doing well. But now it is facing a threat from china.
The domestic players there have rose up to a point to challenge the international market. Even some of their products are challenging the western makes. Some of their companies have been predicted to find a place in the FORTUNE 500 list. Even the people in India are now turning on to buy Chinese make due to their low cost and good performance. Now days we find most of the homes in India filled with Chinese made entertainment products and home appliances. One is able to get DVD's for less than five thousand rupees compared to others.
Only one major disadvantage for them being that they are currently only exporting these products and they don't have a built infrastructure here to carry on selling their goods more effectively. If current players want to stay in the fight they must bounce to the basic mantra, customer satisfaction and cost effectiveness. Having a large poll of skilled and technologically advanced manpower and set up infrastructure for future growth it must not be a problem to over come this threat.
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Research essay sample on The Indian Electronics Entertainment Industry
