India on Track to Achieve $300 Billion Electronics Manufacturing Target

The Indian government is aiming to achieve a $300 billion electronics manufacturing target by 2025-26, which marks a 20-25 times growth in almost a decade, according to Union Minister of State for Electronics and IT, Rajeev Chandrasekhar. The Vision Document 2.0, prepared by the IT Ministry and the India Cellular and Electronics Association (ICEA), highlights that specific product segments with high potential for scale should be shortlisted and catered to by way of incentives and policy measures to achieve this goal. Mobile phone exports played a significant role in increasing the country’s electronics industry’s revenue, achieving a record estimate of Rs 1,85,000 crore in FY22-23, a 58% increase compared to the previous fiscal year. The domestic electronics market is also expected to reach $150-180 billion from the current $65 billion over the next 4-5 years, with India aspiring to become one of the top exports for global electronics companies. The industry’s potential would be crucial in aiding India in reaching a $5 trillion economy, a $1 trillion digital economy, and a $1 trillion export target.