India’s Electronics Manufacturing Sector Set to Reach $500 Billion by 2030: Report

New Delhi, Dec 3 (KNN) India’s electronics manufacturing sector is set for unprecedented growth, with Motilal Oswal Wealth Management projecting a Compounded Annual Growth Rate (CAGR) of 26 per cent from 2023 to 2030. 

By the end of the decade, the sector is expected to reach a staggering USD 500 billion.

According to the report, India is emerging as a global hub for electronics manufacturing, driven by increased assembly activities and soaring demand across sectors like mobile phones, automotive, and industrial electronics. 

Favourable government initiatives such as the Production-Linked Incentive (PLI) schemes and the Semicon India program, combined with a focus on self-reliance and rising domestic consumption, are key catalysts in this transformative journey.

Dixon Technologies stands out as a beneficiary of strong volumes in mobile assembly and other segments. With its leadership across categories, backward integration, and a strategic product mix, Dixon is well-positioned for sustained growth.

CG Power is playing a critical role in India’s infrastructure push. The company specialises in power generation and distribution products, including voltage motors, breakers, and switchgears, which are essential for industrial and energy applications.

Kaynes Technology, an IoT-enabled integrated electronics manufacturer, is experiencing healthy growth in its order book and improving margins. 

The company aims to triple its topline by FY29 and achieve USD 1 billion in revenue by FY28, indicating its ambitious expansion plans.

Amber Enterprises is diversifying beyond its stronghold in the air conditioning sector. By targeting industries like automotive, defence, medical, and telecom, Amber is strategically expanding its footprint in the electronics manufacturing ecosystem.

Syrma SGS is leveraging its extensive order book of Rs 4,800 crore to drive growth across diverse sectors such as automotive, healthcare, and IT. 

Strategic investments in facilities like Pune and Hosur, combined with unutilised IPO proceeds, position the company to meet its FY25 revenue target of Rs 4,500 crore.

India’s electronics manufacturing sector is at the cusp of a transformative journey, poised to capitalise on global opportunities and propel the nation into a new era of technological and economic growth.

(KNN Bureau)