India’s electronics manufacturing industry has witnessed a remarkable sixfold growth in the last 11 years, reflecting the country’s rise as a global manufacturing hub.
According to official data, the sector has expanded from $29 billion in FY14 to $155 billion in FY24. This sharp increase highlights the success of initiatives like ‘Make in India’, PLI (Production Linked Incentive) schemes, and the government’s focus on reducing dependence on imports.
Key Drivers of Growth
- Government Policies: Schemes such as PLI for electronics and semiconductors have attracted both domestic and global players.
- Export Growth: India is exporting more smartphones, laptops, and consumer electronics than ever before.
- Global Demand: Rising global demand and supply chain diversification have made India an attractive destination.
- Local Consumption: With a booming middle class, domestic demand for electronics has surged.
Impact on Economy
This growth has created millions of jobs, boosted foreign investment, and strengthened India’s position in the global electronics supply chain. Major global companies are setting up or expanding manufacturing units in India, including smartphone giants, semiconductor firms, and consumer electronics brands.
The Road Ahead
Industry experts predict that India’s electronics manufacturing sector could cross $300 billion by 2030, if policies continue to support innovation, infrastructure, and exports.
India is steadily moving towards becoming not just a consumer market but also a global leader in electronics manufacturing.
📊 Summary Table
| Year (FY) | Electronics Manufacturing Value | Growth |
|---|---|---|
| FY14 | $29 Billion | – |
| FY24 | $155 Billion | 6x Increase |
| Projection 2030 | $300+ Billion | ~2x from FY24 |
