India is poised to become a global electronics manufacturing powerhouse, with domestic production projected to reach $500 billion by 2030, according to a new report by PwC. The forecast highlights India’s growing appeal amid global supply chain realignments, robust domestic demand, and policy-driven incentives.
Three Growth Scenarios: Conservative to Ambitious
The report outlines three potential trajectories:
- Conservative: $282 billion
- Moderate: $418 billion
- Ambitious: $500 billion (aligned with NITI Aayog’s targets)
Achieving the upper-end estimate will require sustained government support, infrastructure modernization, and strategic investments across high-growth sectors.
Key Growth Drivers: Mobile Phones, Semiconductors, Consumer Electronics
- Mobile & Wearables: Expected to grow to $159 billion by FY2030
- IT Hardware: Projected to reach $32 billion, fueled by a tenfold surge in demand for data servers
- Telecom Electronics: 5G to account for 65% of data revenues by 2026, boosting demand for network infrastructure
- Industrial Electronics: Growth driven by EV chargers, smart manufacturing, and automation technologies
Global Players and Policy Push
India’s electronics sector is attracting major investments from global giants like Apple, Foxconn, and Vedanta, thanks to initiatives such as the Production Linked Incentive (PLI) schemes and semiconductor subsidies.
Challenges Ahead
To fully realize its potential, India must address:
- Capital expenditure constraints
- Infrastructure and logistics gaps
- Policy consistency and ease of doing business
- Workforce skilling for high-tech manufacturing
