India has set a target to achieve 500 billion US dollars in electronics manufacturing in value terms by 2030. This ambitious target comprises 350 billion dollars from finished goods manufacturing and 150 billion dollars from components manufacturing. NITI Aayog Vice Chairman Suman Bery today launched the report titled Electronics: Powering India’s Participation in Global Value Chains in New Delhi.
The Report extensively analyses India’s electronics sector, emphasizing its potential and challenges. It also outlines specific interventions needed for India to emerge as a global manufacturing hub for electronics. Global Value Chains are critical in modern manufacturing, involving international collaboration across design, production, marketing, and distribution. The report highlighted that India’s electronics sector has experienced rapid growth, reaching 155 billion US dollars in 2023. The production has nearly doubled from 48 billion dollars in 2017 to 101 billion dollars in 2023, driven primarily by manufacturing mobile phones.
Disclaimer: This press release is sourced from News On AIR, Prasar Bharti and Press Information Bureau India (PIB).
