The Indian IT hardware industry stands as a pillar of innovation and growth, propelling the nation towards a digital revolution. With its transformative impact on various sectors, this industry has become a vital driver of India's technological landscape.
From manufacturing cutting-edge devices to fostering technological advancements, the Indian IT hardware industry encompasses a diverse range of hardware and peripherals, making it a thriving and indispensable component of the country's digital ecosystem. The demand for IT hardware devices has witnessed a significant boost in India, driven by rising disposable incomes, a growing middle-class population, and government initiatives such as Digital India.
MANUFACTURING LANDSCAPE
The government of India recognizes the importance of IT hardware industry and local manufacturing. Measures like Make in India, the Production Linked Incentive (PLI) scheme, and favourable customs and tax regulations have encouraged domestic manufacturing, research and development, and innovation in the sector. India is emerging as a promising manufacturing destination, driven by a growing push towards supply chain diversification, competitive wages, access to skilled human resources, and geopolitical factors.
The presence of robust infrastructure in India has significantly bolstered the country's potential in terms of exports. According to the India Mobile Handset Market Report by CyberMedia Research (CMR), during FY2022-2023, India exported approximately US$19 billion worth of mobile phones.
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