- Aim to boost electronics manufacturing to $500 billion by FY30.
- Target includes $350 billion from finished goods and $150 billion from components.
- Employment to increase by up to 6 million and exports to reach $240 billion.
NITI Aayog’s blueprint envisions a transformative leap for India’s electronics sector, setting a goal to expand manufacturing to $500 billion by FY30. This ambitious target encompasses $350 billion in finished goods and $150 billion in component manufacturing.
The strategy includes enhancing domestic production capabilities, especially in emerging technology segments such as wearables and automotive electronics, which will cater to evolving market demands and technological trends.
Strategic Roadmap for Elevating India’s Electronics Industry
The blueprint also focuses on improving competitiveness by localizing high-tech components and investing in R&D. Strengthening design capabilities and forging global partnerships are crucial for achieving the desired growth. The projected increase in exports to $240 billion and the creation of 5.5 to 6 million jobs underscore the sector’s potential to drive significant economic and employment benefits.
To enhance global competitiveness, the report advocates for increased localization of high-tech components and significant investments in research and development. Strengthening design capabilities and forging strategic alliances with global technology leaders are key to achieving these goals. The plan also targets an increase in domestic value addition to over 35%, which will help retain a larger share of value within the country.
In addition to boosting manufacturing, the strategy outlines a substantial increase in exports, aiming for $240 billion. This growth is expected to create up to 6 million new jobs, reflecting the sector’s potential to contribute significantly to India’s employment landscape.
To support these objectives, continued emphasis on government initiatives like “Make in India” and “Digital India” will be crucial. These initiatives have already laid the groundwork for improved infrastructure and business conditions, and their expansion will be vital in achieving the sector’s ambitious targets.
NITI Aayog’s blueprint sets a bold path for transforming India’s electronics sector into a global leader by 2030, with significant emphasis on technological advancement, competitiveness, and job creation.
“India’s ambition to become the third-largest global economy necessitates a more ambitious vision for its technology-driven sectors.”
