India’s Electronics Renaissance.docVIP

India?s Electronics Renaissance Deepak Loomba, an entrepreneur based in Gandhinagar, is dreaming big. His venture, De Core Nanosemiconductors, already has one of the largest operational semiconductor manufacturing sites in South Asia and employs about 70 people. But this is just the beginning, he says. He reckons the growing stress on energy efficiency in India means a large and expanding domestic market for his venture. “India will be one of the largest consumers of LEDs in the world,” says Loomba, referring to light emitting diodes, the latest in lighting. B. Visweswaran, a 37-year-old Chennai-based entrepreneur is aiming high as well. A former Intel employee, his two-year-old startup Wysene provides solutions that streamline the power usage of industries in India. The firm?s product tracks power drawn from the state grid and from newer sources such as solar panels and windmills. The companies then can tweak their production cycle to save power and costs. “Industries could shift power-intensive processes to off-peak time when electricity is cheaper and perhaps more regular,” says Visweswaran, who has also worked out a product for homes. Loomba and Visweswaran have many others for company. The exploding electronics market in India is catalysing the establishment of a range of diverse startups. According to several independent estimates, there are some 1,000 companies now operating in this market, scattered around the country. India?s consumption of electronics, says a report commissioned by the Ministry of Communications and Information Technology, could grow almost tenfold in size in the next decade to a staggering $400 billion. Today, electronics account for the second highest foreign exchange outgo after petroleum and its products, in India?s import bill. This opens up umpteen opportunities for local designers and manufacturers. It is estimated that a fifth of India?s `927,969 crore trade deficit is from electronics. In telecom alone, analysts say Ind