Electronics manufacturing in India
Government initiatives like Digital India and Make In India and supportive FDI policies for the domestic market as well as exports. Result: India is poised to emerge as the go-to destination for Greenfield electronics manufacturing setups.
The total global electronics hardware industry is about US$2 Trillion, out of which, India’s Production was about US$ 47 billion during the year 2016-17. The domestic consumption in India was about $ 86.4 billion during the year 2016-17, while exports were about US$ 6 billion.
India is one of the largest electronics markets in the world, and is projected to reach US$ 400bn by 2025. The government has placed electronics manufacturing on high priority with a major focus on initiatives such as Digital India, Make-in-India and supportive FDI policies to bolster electronic manufacturing. As a result, domestic production is expected to grow at a CAGR of 27% during 2016-2020 to reach $ 104 billion in 2020, as compared to the CAGR of 9.6% during 2010-2016. The electronics manufacturing sector accounts for 2.5% of India’s GDP, and employs over 13 million people are through directly and indirect jobs. India’s share in global electronics manufacturing has grown from 1.3% in 2012 to 3.0% in 2018.