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The Indian design industry has a potential to grow over Rs 18,800 crore by 2020, of which industrial design segment is expected to be at Rs 11,000 crore, according to industry body CII.
The potential size of the design industry is Rs 11,681 crore and is expected to be Rs 18,832 crore by 2020, of this presently only a market worth Rs 2,100 crore is realised, meaning more than 80 per cent of the design potential is yet to be realised in India, it said in a statement.
India Design Council Member Secretary and Director of National Institute of Design Pradyumna Vyas at CII - India Design Summit said there is a massive potential for design in India, but rued that design is still underutilised in the industry.
"The role of design in business is creating value. A well-designed product, service, or organisation is more valuable than a product, service, or organisation that is not well designed. To boost manufacturing, India must have an inclusion of design," he said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)