RT team
India’s electronic manufacturing sector is poised for a significant expansion, with projections indicating it will double to approximately USD 250 billion over the next five years, as per sources from the Ministry of Electronics and Information Technology. This growth is anticipated to bolster the country’s position as a global hub for electronic production.
The surge in manufacturing capacity is expected to address not just market demands but also the pressing issue of employment. Currently, the sector employs about 2.5 million people, with plans to double this workforce to approximately 5 million by 2029. Ashwini Vaishnaw, Minister for Electronics and Information Technology, emphasized the government’s dedication to scaling up large-scale electronics manufacturing to accelerate economic development and job creation.
India is making significant strides in reducing its reliance on electronic imports, particularly from China and Hong Kong, which currently constitute 60% of its electronic imports. With initiatives like the Production Linked Incentive (PLI) Scheme and the Semicon India Program, the country is transitioning towards self-reliance and aiming to boost its electronic exports, notably in mobile phones and Electronic Control Units (ECUs), with the United States and the UAE as key markets.
The government has committed a substantial investment of Rs 760 billion to fuel these initiatives, supporting the growth of electronic components, semiconductors, and display manufacturing within the country. This strategic move is expected to further India’s capabilities in electronic manufacturing and establish a robust, self-sustaining ecosystem that not only meets domestic demands but also positions India as a leader in the global electronics market.
