The electronics industry is estimated to grow at 40% CAGR (USD 145 billion) by 2028 as the sector is propelled by schemes like PLI, Merchandise Exports India Scheme, and Scheme for Promotion of Manufacturing of Electronic Components. Mobile phone exports are identified as a key segment in this sector. India is set to be a global leader in mobile phone manufacturing as mobile phone production in India has increased fivefold in the past five years. Domestic electronics production in India has increased significantly from USD 29 billion in 2014 to USD 67 billion in 2021.
The major products that play a vital role in boosting India’s electronics industry are consumer electronics (TV), IT hardware (Laptops), printed circuit board assembly (PCBA), electronic components, industrial electronics, LED lighting, strategic electronics, etc. The USA is the largest importer of India’s electronic exports followed by UAE, China, Netherlands, and Germany. SolutionBuggy with a team of 500+ electronics consultants provide all the services to manufacture any electronics products such as consumer electronics, industrial electronics, PCB, electronic components, etc.