This growth isn't new - the market size has been steadily increasing, with a 14 per cent compound annual growth rate (CAGR) from 2016 to 2019. Even more impressive, the electronics system market is expected to more than double in size by 2025, reaching USD 160 billion. India is also actively working to reduce its reliance on imported electronics. While imports were high in FY23 (USD 73.46 billion), exports were on the rise (USD 22.68 billion in FY23).
Further, they continue to climb (USD 15.48 billion for the first half of FY24). Looking within the industry, the design segment is a bright spot. Growing at over 20 per cent annually, it is expected to make up an even larger share (27 per cent) of the market by 2025, up from 22 per cent in FY19. This indicates a growing domestic capability for designing electronic products.
Overall, India's electronics manufacturing industry is on a promising trajectory. With a booming domestic market, a growing design sector, and a push towards reducing reliance on imports, the future looks bright for this key sector.
Financials
Denne historien er fra July 1, 2024-utgaven av Dalal Street Investment Journal.
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Denne historien er fra July 1, 2024-utgaven av Dalal Street Investment Journal.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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