Advantage India
Robust
Demand
* India has strong design and R&D capabilities in auto electronics and industrial economics. India is the second-largest manufacturer of mobile phones in the world and will be the fifth-largest consumer of electronic products by 2025.
* In FY24, the exports of electronic goods was recorded at US$ 29.11 billion as compared to US$ 23.57 billion during FY23, registering a growth of 23%.
Competitive
Advantage
* India committed to reach US$ 300 billion worth of electronics manufacturing and exports of US$ 120 billion by 2025-26.
* India is home to considerable talent for electronic chip design and embedded software.
Policy
support
* The production-linked incentive (PLI) schemes will provide companies opportunities to establish manufacturing plants in India.
* Major Government initiatives such as ‘Digital India’, ‘Make in India’ and supportive policies including favorable FDI Policy for electronics manufacturing have simplified the process of setting up manufacturing units in India.
Increasing
Investments
* Investment of Rs. 8,803 crore (US$ 1.06 billion) has been made under the scheme for promotion of manufacturing of electronic components and semiconductors.
* The PLI scheme for large scale electronics manufacturing has attracted an incremental investment of Rs. 8,390 crore (US$ 1.01 billion) in June 2024.
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