The Ministry of Electronics and Information Technology (MeitY), in collaboration with the Indian Cellular and Electronics Association (ICEA) and global consultancy Bain & Company, is set to release a detailed strategy report to propel India towards achieving an ambitious electronics production value of $500 billion by 2030. The report is expected to be unveiled by Communications Minister Ashwani Vaishnaw in the coming days, according to sources.
The target aligns with Prime Minister Narendra Modi’s vision of positioning India as a global electronics hub, announced earlier this year. A July 2024 study by NITI Aayog emphasized India’s potential to enhance its participation in the global value chain (GVC) of electronics, projecting exports of $200 billion within the total target. This milestone is anticipated to generate approximately 5.5–6 million jobs.
Key Policy Initiatives
The upcoming strategy report will provide a comprehensive roadmap, breaking down the $500 billion target across key segments, including mobile devices, consumer electronics, auto electronics, telecom equipment, IT servers, wearables, hearables, and medical electronics.
MeitY is also in the advanced stages of finalizing a new production-linked incentives (PLI) scheme dedicated to electronic components. With a budgetary allocation exceeding ₹40,000 crore ($4.68 billion), the initiative aims to bolster a robust supply chain for both domestic consumption and global exports.
Increasing India’s Global Share
The report is expected to detail measures to increase India’s share in global electronics production value to 6-7% by 2030. Industry stakeholders and policymakers have identified critical interventions needed to overcome challenges in infrastructure, supply chain resilience, and market competitiveness to achieve this vision.
As India positions itself as a significant player in the electronics sector, the upcoming strategy report is expected to outline a cohesive plan to ensure the country’s rise as a leader in global electronics manufacturing and exports.
