India's Electronic Manufacturing Sector To Grow 41% By FY26

According to the report by Equiris Securities, India's electronic manufacturing industry will develop at a pace of 41% every year until FY 26. The growth forecast is credited to variables, such as the public authority's emphasis on positioning India as a center for electronics manufacturing, developing worldwide patterns in manufacturing, and the presence of talented workers in the nation.   The industry in India is about to reach Rs 5,980 billion from a Rs 1,069 billion valuation in 2021, according to a report.

"Despite robust strides in manufacturing, the import of laptops, primarily from China, presents a nuanced challenge, akin to India's reliance on imported olives for olive oil. This reliance underscores the pressing need to cultivate a domestic semiconductor ecosystem to mitigate the 95 per cent dependency on foreign semiconductors," said Sandeep Narula, chairman, Electronics and Computer Software Export Promotion Council.

The report showcases a worldwide shift towards India, with organizations embracing the China+1 system to enhance their manufacturing bases. The Indian government has distributed Rs 760 billion for electronic manufacturing in India and acquainted impetus plans to support the industry. Despite a positive development viewpoint, the report takes note of a decrease in electronic products from India because of expanded domestic consumption. 

India, a net merchant of gadgets, especially laptops and televisions, has seen China and Hong Kong represent 44% and 16% of its total electronic imports, respectively. Cell phones and Electronic Control Units (ECUs) rule India's electronic exports, with the US and the UAE as major export destinations.