ENA Sectors 2024-04-12 16:55:01 <p><span style="font-size:14px"><strong>New Delhi, Apr 12 (KNN)</strong> India's electronic manufacturing industry is poised for remarkable growth, projected to expand at an annual rate of 41 per cent until the fiscal year 2026, according to a recent report by Equirus Securities.</span></p> <p><span style="font-size:14px">This robust growth forecast is attributed to a confluence of factors, including the government's concerted efforts to establish India as a hub for electronics manufacturing, evolving global trends in manufacturing, and the presence of skilled labour within the country.</span></p> <p><span style="font-size:14px">The report estimates that by FY26, the Indian electronic manufacturing industry will reach a valuation of Rs 5,980 billion, a significant increase from its Rs 1,069 billion valuation in 2021.</span></p> <p><span style="font-size:14px">The report underscores a global shift towards India, with companies adopting the China+1 strategy to diversify their manufacturing bases.</span></p> <p><span style="font-size:14px">This trend, coupled with the Indian government's allocation of Rs 760 billion for electronic manufacturing and the introduction of incentive schemes, is expected to provide a significant boost to the sector.</span></p> <p><span style="font-size:14px">However, despite the positive growth outlook, the report notes a decline in electronic exports from India due to increased domestic consumption. India, a net importer of electronics, particularly laptops and TVs, has seen China and Hong Kong account for 44 per cent and 16 per cent of its total electronic imports, respectively.</span></p> <p><span style="font-size:14px">On the export front, mobile phones and Electronic Control Units (ECUs) dominate India's electronic exports, with the United States and the UAE emerging as major export destinations.</span></p> <p><span style="font-size:14px">Experts suggest that India's electronic manufacturing sector is undergoing a transformative phase, positioning the nation as a global hub for electronics production.</span></p> <p><span style="font-size:14px">This transformation is expected to drive economic growth, create employment opportunities, and foster technological innovation nationwide.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 37397 https://knnindia.co.in/news/newsdetails/sectors/indias-electronic-manufacturing-industry-set-for-41-annual-growth-until-fy26-report 2024-04-12 16:55:01 knnindia.co.in