India is currently dependent on other nations, especially China, for its display needs due to the lack of a domestic display manufacturing industry. As the global display market is expected to hit $187.8 billion in 2023, with a growth rate of 3.5% annually until 2028, India remains one of the largest consumers without a local production sector.
Display manufacturing is the process of creating various types of display panels used in numerous electronic devices. These include technologies like LCD (Liquid Crystal Display) and OLED (Organic Light-Emitting Diode). The production process involves several stages, such as substrate preparation, thin-film transistor (TFT) array formation, cell assembly, and module assembly. These panels are crucial components in products like televisions, smartphones, laptops, automotive displays, and medical equipment.
Most display manufacturing is concentrated in Asia. China leads the market with a 69% share in LCD display panels, followed by countries like Taiwan, Japan, and South Korea. India, however, remains reliant on imports, mainly from China, for its display requirements.
In December 2021, the Indian government launched a Rs 76,000 crore initiative aimed at semiconductor and display fabrication. Despite its focus on semiconductors, discussions have begun about establishing display manufacturing facilities in India in the coming years.
For India to achieve technological stability and enhance its electronics manufacturing capabilities, it is crucial to develop a domestic display manufacturing industry. This move aligns with the government's Atmanirbhar Bharat vision, promising significant long-term economic benefits.
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