India's Electronics Boom: A $500 Billion Vision by 2030
India is set to become a key player in the global electronics manufacturing sector, with potential growth to $500 billion by 2030. A PwC report highlights India's emergence amid a global supply chain shift, driven by strong policy support and investment targeting mobile, semiconductor, and telecom industries.
- Country:
- India
According to a recent PwC report, India is positioned for significant growth in the electronics manufacturing sector, becoming a pivotal player amid a global supply chain realignment. The country has already seen an uptick in production for smartphones and other electronic products as it emerges as a key destination in the industry.
The report outlines three growth scenarios, with the conservative estimate projecting India's domestic electronics production to reach $282 billion by 2030. A more moderate path suggests $418 billion, while the ambitious scenario, aligned with NITI Aayog's targets, aims for $500 billion with robust government policy and investments.
Mobile phones, semiconductors, and consumer electronics are forecasted to drive the growth, while sectors with limited capital, like industrial electronics, may expand more slowly. Enhancements in IT and telecom, including a projected surge in 5G services, are expected to further bolster the industry's development.
(With inputs from agencies.)
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