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'India's electronic manufacturing may reach $ 500 bn by 2030'
The Daily Guardian
|June 24, 2024
India needs to take critical actions to transform its electronic sector ecosystem from an 'import dependent assembly led manufacturing' to 'component level valueadded manufacturing', highlights a report by Confederation of Indian Industry.
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As per the Report, in 2023, the demand for components and sub-assemblies stood at USD 45.5 billion to support USD 102 billion worth of electronics production. This demand is expected to scale to USD 240 billion to support the USD 500 billion worth electronics production by 2030.
The priority components and sub-assemblies including PCBAS (Printed Circuit Board Assembly), are projected to grow at a robust CAGR (Compounded Annual Growth Rate) of 30 percent, reaching USD 139 billion by 2030.
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