India's Electronics Manufacturing Poised for Rapid Growth: PwC Report

• India targets USD 500 billion electronics production by 2030.
• Mobiles, 5G, and data servers drive growth.
• EV chargers and automation boost industrial demand.

India is about to experience a serious growth opportunity in electronics manufacturing, expanding its role as a key player in a dynamic electronics landscape as global supply chains shift. A PwC report indicated that this shift has stimulated a rising domestic production of smartphones and a wide range of electronics.

A target of USD 500 billion in domestic electronics production by 2030 is set by India, but a conservative estimate of USD 282 billion production is more realistic. The report identified three scenarios: conservative (USD 282 billion), moderate (USD 418 billion), and aspirational (USD 500 billion, consistent with NITI Aayog); in order to reach the aspirational target of USD 500 billion, policy support will need to remain consistent and investment will be critical.

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The key components of growth are mobile phones, semiconductors, and consumer electronics. The mobile and wearable segments alone, are forecasted to be worth USD 159 billion by FY2030. The IT electronics sector is expected to grow to USD 32 billion, as demand for data servers will ramp up as digital adoption quickens.

India’s telecommunications sector is rapidly evolving as well, with data traffic increasing 60x in five years. By 2026, more than 65% of total data revenue will be attributed to 5G services, and as a result, demand for telecom electronics is likely to drive growth.

Industrial electronics is also a growing area, with promising areas of growth like EV chargers and smart industrial automation. Though the outlook is positive, unlocking the potential of the sector requires intentional capital deployment, upgrades to infrastructure, and continued government support in segments with high potential.