Local push may double India's electronics exports by 2030

India's electronics exports could more than double to $50 billion per year by 2030 as part of the country's efforts to take a high seat in the global supply chain, according to three senior industry executives who regularly consult the ministry on the electronics sector.

- Shouvik Das

This surge is expected to be driven by the IT ministry's push for raising the share of locally manufactured components for smartphones, laptops, as well as semiconductor chips, both by local as well as foreign companies.

On Tuesday, Union IT minister Ashwini Vaishnaw said India's annual electronics exports to the world crossed ₹2 trillion ($23 billion) in FY25. "This marks a 54% growth over FY24," he said, adding that electronics production has grown 5x at a compounded annual rate of more than 17% over the past decade. "Exports grew even faster, rising 6x since 2015 at a CAGR of over 20%," the minister said.

Now, the three executives cited above said India's latest moves can help the country continue this pace of growth, crossing what one of them said is "an important milestone" as trade tensions globally, and especially between the US and China, continue to escalate.

"The three big reasons why India is stepping up its push to bring more electronics manufacturers to the country are to insulate itself from geopolitical disruptions, increase its importance in the global electronics supply chain, and ramp up India's net exports to the world," one of the executives cited above said on condition of anonymity.