The Impressive TimesIndia has set a target to achieve $500 billion in electronics manufacturing by 2030, with $350 billion from finished goods manufacturing and $150 billion from components manufacturing. The NITI Aayog Vice Chairman, Suman Bery, launched the report titled “Electronics: Powering India’s Participation in Global Value Chains” in New Delhi yesterday.
The report extensively analyzes India’s electronics sector, highlighting its potential and the challenges it faces. It outlines specific interventions needed for India to become a global manufacturing hub for electronics. Global Value Chains, which involve international collaboration across design, production, marketing, and distribution, are critical in modern manufacturing. The report highlights that India’s electronics sector has experienced rapid growth, reaching $155 billion in 2023. Production has nearly doubled from $48 billion in 2017 to $101 billion in 2023, driven primarily by the manufacturing of mobile phones.
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