As per the recent report of CII, India’s electronics manufacturing industry may grow up to USD 500 billion by 2030. It also highlights the importance of Indian manufacturing pushed to a higher level known as value-added manufacturing.
Benefits such as PCBAs are estimated to reach USD 139 billion by 2030 and have a priority CAGR of 30 per cent.
It outlines measures for the government to take, more so the continuation of fiscal support schemes such as SPECS 2.0 and the rationalising of import tariffs.
Batteries, camera modules, mechanics, display, and PCBs are recognized as key components, which are essential to be established indigenously in India.
However, issues such as cost differences with other competing economies and the absence of production facilities in the home country remain some of the major limitations.
The report indicates that the government needs to play its part by developing policies that lead to job creation, enhanced addition of domestic value, decreased importation and ultimately the improvement of GDP.
These measures could position India as an electronics manufacturing destination generating roughly two million direct employment opportunities. Creating 2.8 lakh jobs by 2026 and accelerating sustainable economic growth.
