The electronics market in India reached $11.5 bln in 2004, representing less than 1% of the global market, it is expected to grow at a CAGR of 23% by 2010 to reach $40 bln. India faces stiff competition from a formidable China, with an electronics market worth $271.97 bln in 2004, with 18% of the global market, InStat says. The electronics market in China is expected to grow at a CAGR 21% over the next 5 years, contributing a significant 30% share of the world's electronics market by 2010. Key players in the Indian electronics market are Flextronics, Jabil Circuits, TVS Electronics, Solectron Centum, LG Electronics, Tata Infotech, Samsung India, Celetronix India and Bharat Electronics Ltd. Emerging new players include D-Link and WeP while Samtel and Tyco are significant and will continue to emerge as global players in the export arena. Additionally, Nokia and Elcoteq are expected to set up manufacturing plants for handsets in south India.