With tech adoption and government initiatives driving growth, the Indian electronics sector eyes to double its workforce by 2031.
India’s electronics manufacturing sector could reach around $250 billion in the next five years, while employment in the industry is expected to double from the current 2.5 million workforce, according to Invest India.
The agency said the growth is being driven by the rollout of 5G networks, increasing use of IoT-enabled devices and government programmes such as Digital India and Smart Cities. These initiatives have contributed to rising demand for electronics products across the country.
Meanwhile, India’s domestic electronics production grew at a compound annual growth rate (CAGR) of 13 per cent, rising from $49 billion in FY17 to $101 billion in FY23, claims The Economic Times. On the other hand, exports stood at $2.65 billion in April 2024, up 25.8 per cent from $2.10 billion in the same month last year.
The sector has recorded steady growth since 2016, supported by increasing domestic demand and higher production levels. According to the report, electronics manufacturing continues to be one of the key segments of India’s manufacturing industry.
Furthermore, mobile phone manufacturing has also seen significant growth. According to the India Cellular and Electronics Association (ICEA), production increased from ₹189 billion in 2014-15 to an estimated ₹4.1 trillion in FY24, rising almost 99.2%.
