India sets $500 bn electronics manufacturing target by 2030

India's electronics sector has shown impressive export performance, contributing 5.32% to total merchandise exports in FY 2023. According to the report titled Electronics: Powering India’s Participation in Global Value Chains,India has set a target to achieve 500 billion US dollars in electronics manufacturing in value terms by 2030. This ambitious target comprises 350 billion dollars from finished goods manufacturing and 150 billion dollars from components manufacturing. The report was launched by NITI Aayog Vice Chairman Suman Bery in New Delhi on Thursday.
The Report extensively analyses India’s electronics sector, emphasizing its potential and challenges. It also outlines specific interventions needed for India to emerge as a global manufacturing hub for electronics. Global Value Chains are critical in modern manufacturing, involving international collaboration across design, production, marketing, and distribution. The report highlighted that India’s electronics sector has experienced rapid growth, reaching 155 billion US dollars in 2023. The production has nearly doubled from 48 billion dollars in 2017 to 101 billion dollars in 2023, driven primarily by manufacturing mobile phones. 
The report highlights the significance of the electronics sector in Global Value Chains (GVCs), accounting for 80% of electronics exports. The report also provide provide a comprehensive strategy for India to enhance its GVC participation, leveraging its competitive edge in electronics manufacturing.