By New Delhi, June 27, 2024 – Encouraged by government incentive schemes, electronics and semiconductor manufacturers are gearing up for significant capital expenditure in India. Over the next five years, companies—both large and small—plan to invest close to Rs 3 trillion. Their focus spans a wide range of products, from smartphones and laptops to wearables. The Confederation of Indian Industry estimates that the domestic electronics market will reach $500 billion by 2030. Simultaneously, India aims to become a vital part of the global electronics value chain, following the example set by countries like Vietnam. While the domestic market is valued at $33 billion, the export opportunity nudges $30 billion. The production-linked incentive scheme and the scheme for promoting electronic components and semiconductors have further fueled investment in this sector. The vision? To lead the world in electronics manufacturing and offer resilient supply chains to customers.
The Road Ahead
Randhir Thakur, managing director & CEO of Tata Electronics, emphasizes the need to provide integrated solutions across the value chain. The goal is clear: to become the global leader in electronics manufacturing. With the right incentives and strategic planning, India can tap into its immense potential and contribute significantly to the electronics industry worldwide.