
India is setting its sights on becoming a global electronics manufacturing hub, aiming to achieve $500 billion in production by FY2030, according to Rubix Data Sciences’ latest report, Rubix Industry Insight—Electronics Manufacturing.
The report highlights key drivers such as the Production Linked Incentive (PLI) scheme, which has already attracted over $17 billion in investments across sectors like mobile phones, semiconductors, and consumer electronics. India’s semiconductor market is projected to reach $109 billion by 2030, bolstered by projects like Tata Electronics’ fabrication units and Micron Technology’s $2.75 billion ATMP facility.
India’s mobile phone exports surged by 40% in FY2024 to $15.6 billion, with domestic value addition increasing from 6% in 2017 to 16% in 2023. However, the report flags challenges, including heavy reliance on imports for high-value components such as semiconductors and PCBs, which contribute to trade imbalances.
Global players like Apple and Samsung are leveraging India’s “China Plus One” manufacturing strategy, with Tamil Nadu leading in electronics exports, rising from $1.66 billion in FY2021 to $9.56 billion in FY2024. Yet, high tariffs, limited R&D investments, and an underdeveloped component ecosystem hinder the sector’s growth potential.
“India’s electronics industry offers immense opportunities, but addressing structural challenges is vital for sustained growth,” said Mohan Ramaswamy, Co-founder & CEO of Rubix Data Sciences.
The report provides actionable insights for stakeholders keen to capitalize on India’s electronics manufacturing transformation.