India plans to expand its electronics manufacturing sector to $500 billion by 2030, creating six million jobs. This goal is outlined in NITI Aayog‘s latest report, “Electronics: Powering India’s Participation in Global Value Chains.”
The report outlines a bold plan to expand India’s electronics sector to $500 billion by 2030 and create six million new jobs. The report highlights India’s current small share in global electronics exports and market presence, noting that the country’s exports make up less than 1% of the global total.
To address this, the report calls for major improvements in local manufacturing, especially in high-tech components and design. It emphasizes the need for better infrastructure, increased research and development, and revised tariffs to support local industry.
By fostering a strong manufacturing ecosystem, India aims to boost its global presence and meet growing domestic demand. Currently, India’s electronics sector makes up 75% of the country’s exports in this field but represents less than 1% of the global share. NITI Aayog aims to change this with ambitious growth targets.
From $48 billion in FY17, the sector grew to $155 billion in FY23. The report suggests that with policy support and industry innovations, the sector could grow to $278 billion by FY30. With strategic improvements, it could reach $500 billion, with exports hitting $240 billion and increasing domestic value addition.
Key recommendations include improving infrastructure, supporting research and development, and revising tariffs to help local industry. The plan also highlights opportunities in emerging tech sectors like wearables and IoT devices.
