Confederation of Indian Industry envisages that by the year 2030, India will transform into a world electronics manufacturing hub. The report titled “Development of India as the Manufacturing Destination for Electronics Components and Sub-Assemblies” clearly presents a future growth path of manufacturing electronics components and sub-assemblies. From helping support a $102 billion electronics production in 2023, the elements and sub-assembly market is expected to climb to $240 billion by the end of the decade to support a projected $500 billion electronics industry.
In the middle of this change process are materials that include lithium-ion batteries, camera modules, mechanical casings, display panels, and PCBs. These have been identified as high priority components most of which are currently imported while the government has planned for massive increase in their production within the country. The CII emphasizes a transition from a more assembly focused to a value added component manufacturing business as critical for continued industrial growth in India.
The report thus points to the need to foster a strong homegrown industry that will help to meet growing needs. As for PCBAs, which are expected to expand at an astounding 30% CAGR, the target is $87. About $46 billion in demand by 2030, India is on the cusp of a manufacturing revival. This massive plan not only aims to strengthen the economic base of the country but also put India at the global supply chain map of electronics industry to set a benchmark in innovative industrial development.