India Aims for $500 Billion Electronics Sector by 2030
Indian Prime Minister Narendra Modi announced ambitious plans to develop the electronics sector, targeting a volume of $500 billion by 2030. In his speech at the India Electronics Expo, Modi emphasized India’s goal to become one of the largest electronics manufacturers in the world. He highlighted the importance of self-sufficiency and export ambitions in this sector, which should contribute to the country's economic growth.
Modi further stated that the government is already taking proactive steps to achieve this goal, including fostering local production and creating a favorable environment for foreign investments. Under the "Make in India" program, plans include the implementation of special economic zones and providing tax incentives for companies engaged in electronic components manufacturing.
It is noteworthy that the increased interest in the Indian electronics market is taking place against the backdrop of global supply chain restructuring and companies' attempts to reduce reliance on Chinese manufacturers. Indian authorities are confident that these measures will create millions of jobs and significantly boost technology exports.
By 2025, India already plans to strengthen its position by producing electronics worth $300 billion, which is a crucial part of the government’s strategy to support high-tech and innovative solutions.
Modi also emphasizes that the future of electronics lies not just in mass production but also in the development of technologies such as artificial intelligence and the Internet of Things, which will provide new opportunities for the industry.
Overall, the ambitious goals set by the Indian government could significantly change global electronics markets, making the country a key player in this field.
