India To Emerge go-to Electronics Manufacturing Hub Under Modi: ICEA chairman By CIOTechOutlook Team

India To Emerge go-to Electronics Manufacturing Hub Under Modi: ICEA chairman

CIOTechOutlook Team | Monday, 10 June 2024, 05:58 IST

According to Pankaj Mohindroo, Chairman of the India Cellular and Electronics Association (ICEA), India is on the path to emerge as a major hub for global electronics manufacturing, with projections indicating significant growth in the coming years. After the Bharatiya Janata Party-led National Democratic Alliance (NDA) won 293 seats in the Lok Sabha elections, Narendra Modi is set to become India's prime minister for a record-breaking third time.

Mohindroo emphasized the significant progress made in the production of mobile phones over the past ten years, reaching the 50 billion unit mark, which has laid the groundwork for extensive expansion in the electronics industry as a whole.

“The nation must now expedite growth across all electronics sectors, not just mobile production but also IT hardware, laptops, desktops, servers, and consumer electronics, including automotive electronics, to position India as a leading destination for global electronics manufacturing,” Mohindroo added.

According to a recent report from the ICEA, India's goal of manufacturing $300 billion worth of electronics by the fiscal year 2026 is expected to generate a demand for semiconductors worth between $90 and $100 billion, primarily driven by the country's mobile manufacturing sector.

Mohindroo underlined the requirement for proceeded with intense administration, much the same as what the nation has encountered over the course of the last 10 years, to drive India toward turning into a huge scope, global electronics manufacturing powerhouse force, aiming for the fourfold increment of 400%, like the development found in the previous decade.