Advantage India
Growing
Demand
* The Indian room air conditioner market is projected to reach Rs. 50,000 crore (US$ 5.6 billion) by FY29.
* Due to a flourishing economy and changing demographics, India's smartphone market is projected to grow to US$ 90 billion by 2032.
* The headset market revenue in India is projected to reach US$ 77 million by 2027 at a CAGR of 4.7%, driven by rising adoption of wireless headsets among consumers.
Opportunities
* India’s wearable market registered another record quarter, shipping 134 million units in CY 2023, a growth of 34 YoY.
* During FY25 (April-December), electronics exports reached Rs. 2,25,869 crore (US$ 26.1 billion).
* With robust growth, India aims to achieve electronics manufacturing worth US$ 300 billion in electronics exports of US$ 120 billion by FY26.
Policy
Support
* 100% FDI allowed in the electronics hardware-manufacturing.
* The PLI scheme for White Goods (ACs and LED lights) spanning FY 2021-22 to FY 2028-29 approves 64 applicants with a committed investment of US$ 814 million (Rs. 6,766 crore).
* In March 2023, Samsung invested in setting up smart manufacturing capabilities at its mobile phone plant in Noida.
Increasing
Investments
* Between April 2000-September 2024, electronic goods attracted FDI inflows of Rs. 39,416 crore (US$ 5.67 billion).
* Sector contributes approximately 0.6% in 2024 to the nation's GDP and is expected to grow at a CAGR of around 11%, aiming for a market size of Rs. 3 lakh crore (US$ 34.5 billion) by 2029.
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