India aims for a $300 billion electronics industry by 2026

Union minister of state for entrepreneurship, skill development, electronics and technology Rajeev Chandrasekhar Thursday, while addressing a session on ‘India’s role in Electronics & Semiconductor Manufacturing – driving towards $5Trillion opportunity’ during the Bengaluru Tech Summit (BTS 22), said Prime Minister Narendra Modi has set a target to increase production in the electronics sector to $300 billion by 2025-26, a “26 times” increase in a period of 10 years.

Advertising

“The current electronics industry in India is valued at $75 billion compared to $10 billion in 2014. Our target is to make it worth $300 billion by 2025-26, nearly 26 times, in a decade. This will also fuel the growth of semiconductors, which eventually will accelerate the digitisation of automotive, mobility and computing,” said Chandrashekar.

He also added that the government of India is committed to funding $30 billion in electronics and semiconductors, wherein $20 billion will be invested in electronics manufacturing and design and $10 billion in semiconductor manufacturing, research and design.

Chandrasekhar mentioned that India has already received proposals to set up semiconductor manufacturing and packaging facilities in India.

“India’s electronics ecosystem had been laid waste by years of unfettered electronics imports where the total production of electronic products in 2014 (in today’s value) was worth $10-$12 billion.

Chandrasekhar added, “In 2014, 92 per cent of mobile devices consumed in India were imported and close to 100 per cent of computing was imported. But in 2022, 97 per cent of mobile devices consumed in India were manufactured here and we exported nearly Rs 74,000 crore worth globally competitive electronic products from India to consumers around the world.”

The minister also assured that India will strongly focus on semiconductor research.