India is poised to experience strong and exponential growth in the electronics manufacturing sector, driven by the ongoing global supply chain realignment. A new report by PwC highlights that India is emerging as a key destination in the rapidly shifting global electronics supply chain. This transition has already resulted in substantial growth in the production of smartphones and other electronic products.
The PwC report states that India aims to achieve domestic electronics production worth USD 500 billion, though a conservative estimate places this figure at USD 282 billion by 2030. The report presents three potential growth scenarios for the sector: conservative, moderate, and ambitious. Even under conservative growth, India is projected to reach USD 282 billion in domestic electronics production by 2030. A moderate scenario estimates production at USD 418 billion, while the ambitious scenario, which aligns with NITI Aayog’s targets, projects production could hit USD 500 billion, provided there is strong policy support and sustained investments.
The report identifies mobile phones, semiconductors, and consumer electronics as the primary growth drivers. However, it also cautions that some segments may witness slower growth due to limited capital expenditure, which could marginally slow the overall industry’s pace.
India, currently the world’s second-largest smartphone market, is expected to see the mobile and wearables segment grow to USD 159 billion by FY2030. Additionally, the IT electronics market is projected to touch USD 32 billion by the same period, with the demand for data servers likely to increase tenfold, further pushing domestic production.
The telecom sector is also undergoing rapid transformation. Over the past five years, data traffic has surged 60 times, and by 2026, over 65% of total data revenue is anticipated to come from 5G services. This boom will significantly drive the demand for telecom electronics and related infrastructure.
Moreover, the industrial electronics segment is evolving quickly, with emerging sectors like EV chargers and smart industrial automation expected to become major growth catalysts. According to the PwC report, India’s electronics manufacturing industry is firmly on a growth trajectory. However, achieving the upper end of these projections will require continued policy backing, enhanced infrastructure, and focused investments in high-potential sectors.
(From ANI)
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