New Delhi: India’s electronics industry has experienced a dramatic surge in production, growing nearly 500% over the past nine years. Despite this impressive growth, the country’s share in the global electronics market remains unchanged at 4%, as per a recent industry survey.
Government-led initiatives such as Make in India and Digital India have played a pivotal role in boosting domestic manufacturing and reducing reliance on foreign imports. The sector’s revenue has skyrocketed from ₹1.90 lakh crore in FY15 to ₹9.52 lakh crore in FY24, marking a compound annual growth rate (CAGR) of 17.5%.
A significant driver of this growth has been India’s focus on assembling electronic products rather than full-scale end-to-end manufacturing. The survey highlights that the country has drastically reduced smartphone imports, with 99% of devices now being manufactured domestically. In FY24 alone, India produced around 330 million mobile phones, of which over 75% were 5G-enabled.
However, experts point out that India’s electronics market still depends heavily on imported critical components, which hampers its global competitiveness. The industry is poised for further growth as India works to strengthen its supply chains, invest in semiconductor production, and improve the availability of skilled labor
With sustained policy support and infrastructure development, India aims to emerge as a major player in global electronics manufacturing in the years to come.