NEW DELHI: India’s electronics sector could scale up to $500 billion in production and exports by 2030 as the country’s expanding global footprint is being strengthened by new free trade agreements (FTAs), investor-friendly reforms and a rising shift toward manufacturing-led growth.
According to industry associations, India is increasingly positioning itself for deeper integration into global value chains as companies ramp up investments and diversify their supply bases.
Their outlook comes at a time when India has already undergone a massive transformation over the last decade.
Once heavily dependent on imported electronic goods, the country has now emerged as a major hub for electronics and mobile manufacturing.
Meanwhile, the Indian government has begun working with smartphone companies to shape the next phase of the Production-Linked Incentive (PLI) scheme The aim is to increase the share of locally made components in smartphones and key electronics to 35–40 per cent over the next few years.
According to the government, 24 electronics component projects approved under the current scheme -- along with new investments expected under ECMS 2.0 -- will play a major role in boosting domestic value addition.