+
India targets $500 billion in electronics manufacturing by 2030
ECONOMY & POLICY

India targets $500 billion in electronics manufacturing by 2030

As of FY23, India's electronics production stands at $101 billion. The NITI Aayog, in a report released, stated that India should target $500 billion in electronics manufacturing by 2030, aiming to create 6 million jobs.

In the report titled "Electronics: Powering India's Participation in Global Value Chains", NITI Aayog highlighted that the $4.3 trillion global electronics market is dominated by countries such as China, Taiwan, the US, South Korea, Vietnam, and Malaysia.

"India currently exports approximately $25 billion annually, representing less than 1% of the global share despite a 4% share in global demand. To enhance competitiveness, India needs to localise high-tech components, strengthen design capabilities through R&D investments, and forge strategic partnerships with global technology leaders," the government think tank said in a statement.

As of FY23, India's electronics production stands at $101 billion, comprising $86 billion in finished goods and $15 billion in components manufacturing. During the same period, exports totalled $25 billion, reflecting India's growing role in the global electronics market.

Regarding domestic value addition, the sector has contributed around 15 to 18% and generated approximately 1.3 million jobs.

"n a Business As Usual (BAU) scenario, projections indicate that India's electronics manufacturing could escalate to $278 billion by FY30. This forecast includes $253 billion from finished goods and $25 billion from components manufacturing. Employment generation is expected to grow substantially to around 3.4 million, with exports reaching $111 billion," the Aayog said.

The think tank emphasised that India's ambition to become the third-largest global economy necessitates a more ambitious vision for its technology-driven sectors. "With a conducive business environment and robust policy support, including fiscal incentives and non-fiscal interventions, India should aim to achieve $500 billion in electronics manufacturing by FY30,"the report said.

The report recommends strategic interventions across fiscal, financial, regulatory, and infrastructure domains to support this growth trajectory. These include promoting components and capital goods manufacturing, incentivising R&D and design, tariff rationalisation, skilling initiatives, facilitating technology transfers, and infrastructure development to foster a robust electronics manufacturing ecosystem in India.

(Source: BusinessLine)

As of FY23, India's electronics production stands at $101 billion. The NITI Aayog, in a report released, stated that India should target $500 billion in electronics manufacturing by 2030, aiming to create 6 million jobs. In the report titled Electronics: Powering India's Participation in Global Value Chains, NITI Aayog highlighted that the $4.3 trillion global electronics market is dominated by countries such as China, Taiwan, the US, South Korea, Vietnam, and Malaysia. India currently exports approximately $25 billion annually, representing less than 1% of the global share despite a 4% share in global demand. To enhance competitiveness, India needs to localise high-tech components, strengthen design capabilities through R&D investments, and forge strategic partnerships with global technology leaders, the government think tank said in a statement. As of FY23, India's electronics production stands at $101 billion, comprising $86 billion in finished goods and $15 billion in components manufacturing. During the same period, exports totalled $25 billion, reflecting India's growing role in the global electronics market. Regarding domestic value addition, the sector has contributed around 15 to 18% and generated approximately 1.3 million jobs. n a Business As Usual (BAU) scenario, projections indicate that India's electronics manufacturing could escalate to $278 billion by FY30. This forecast includes $253 billion from finished goods and $25 billion from components manufacturing. Employment generation is expected to grow substantially to around 3.4 million, with exports reaching $111 billion, the Aayog said. The think tank emphasised that India's ambition to become the third-largest global economy necessitates a more ambitious vision for its technology-driven sectors. With a conducive business environment and robust policy support, including fiscal incentives and non-fiscal interventions, India should aim to achieve $500 billion in electronics manufacturing by FY30,the report said. The report recommends strategic interventions across fiscal, financial, regulatory, and infrastructure domains to support this growth trajectory. These include promoting components and capital goods manufacturing, incentivising R&D and design, tariff rationalisation, skilling initiatives, facilitating technology transfers, and infrastructure development to foster a robust electronics manufacturing ecosystem in India. (Source: BusinessLine)

Next Story
Infrastructure Energy

Reliable Energy Storage Vital for 24/7 Renewable Power: TKIL

Reliable, scalable, and efficient energy storage systems are essential to ensuring uninterrupted renewable energy supply, said engineering firm TKIL Industries at the India Energy Storage Week (IESW) 2025.India aims to achieve 500 GW of renewable energy capacity within the next five years.Speaking at IESW, organised by the India Energy Storage Alliance (IESA), Vivek Bhatia, Managing Director and CEO of TKIL Industries, emphasised that the country’s energy sector is experiencing a major transformation. This shift is being driven by innovations in storage technology, aimed at improving grid re..

Next Story
Infrastructure Energy

IIT Madras, Hyundai Launch £17m Hydrogen Research Centre

The Indian Institute of Technology Madras (IIT Madras) and Hyundai Motor India Ltd (HMIL) have announced the establishment of the Hyundai HTWO Innovation Centre, a cutting-edge hydrogen research facility set to begin operations by 2026.The Rs 180 crore (approx. £17 million or USD 21.5 million) project will be located at IIT Madras' Discovery Campus in Thaiyur, near Chennai. Of the total, Rs 100 crore (approx. £9.4 million) has been committed by HMIL and its philanthropic arm, Hyundai Motor India Foundation (HMIF), with support from the Government of Tamil Nadu and its investment promotion ag..

Next Story
Infrastructure Energy

India’s Hydrogen Demand to Hit 8.8 MTPA by 2032: IESA Report

India’s hydrogen demand is projected to grow at a compound annual growth rate (CAGR) of 3 per cent, reaching 8.8 million tonnes per annum (MTPA) by 2032, according to a report released by the India Energy Storage Alliance (IESA).Unveiled on the first day of the India Energy Storage Week (IESW) 2025, the report points out a gap between ambitious project announcements and actual progress. While green hydrogen (GH₂) projects totalling 9.2 MTPA have been announced, only a limited number have reached Final Investment Decision (FID) or secured long-term domestic or international offtake agreemen..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?