India To Become go-to Electronics Manufacturing HuB under Modi: ICEA chairman

India, led by Prime Minister Narendra Modi, is on course to become a global electronics manufacturing powerhouse, with a fourfold growth in production, the local market expected to reach $180 billion and exports anticipated to reach $120 billion by 2026.

India is on track to become a major global electronics manufacturing hub, with projections of significant growth in the coming years under Prime Minister Narendra Modi's leadership, according to Pankaj Mohindroo, Chairman of the India Cellular and Electronics Association (ICEA). Narendra Modi is expected to become India's prime minister for a historic third straight term later today, after the Bharatiya Janata Party-led National Democratic Alliance (NDA) won 293 seats in the Lok Sabha elections.

Mohindroo emphasized the significant development in mobile phone production over the last decade, which has reached a milestone of 50 billion units, laying the groundwork for rapid expansion in the broader electronics industry.

“The nation must now expedite growth across all electronics sectors, not just mobile production but also IT hardware, laptops, desktops, servers, and consumer electronics, including automotive electronics, to position India as a leading destination for global electronics manufacturing,” Mohindroo added.

According to the ICEA's most recent assessment, India's objective of $300 billion in electronics manufacturing by fiscal year 2026 is predicted to create semiconductor demand ranging from $90 to $100 billion, driven mostly by the local mobile manufacturing industry.