India is one of the largest and fast-growing electronics markets in the APAC region. The demand for PCBs which find application in almost every electronic product right from computers, laptops, smart phones to industrial equipment, medical devices, etc. has been increasing substantially in India over the past decade. The PCB market in India is projected to reach USD 6.33 billion mark by 2024, growing at a CAGR of 17.9 percent. Growing urban population, increase in the standard of living of people and government’s push towards digitization are expected to drive the market forward.
Currently, a mere 35 percent of PCB requirement in India is met through the domestic supply. India mainly imports PCBs from countries like China, Korea, USA, etc. However, following the recent coronavirus pandemic wherein India faced challenges in the import of essential goods and raw materials, the government has decided to promote domestic manufacturing and minimize dependency on imports to make India self-reliant.
Under Atmanirbhar Bharat scheme, the government has announced a lot of initiatives to boost local manufacturing by providing special grants to MSMEs which form majority of the manufacturing industries in the country. With a vision to help MSMEs meet their working capital needs, the government has allotted an amount of Rs. 50,000 crores in the name of Fund of Funds. The government has revised the definition of MSMEs which allows them to get more aid from government. The government had also imposed a 10 percent duty on the import of PCBs which help to reduce the imports and thereby boost domestic manufacturing.
At present there are very few enterprises that are into the manufacturing of PCBs in India. There are not more than 500 MSMEs in the country that manufacture PCBs. Therefore, taking into account the huge demand and low supply of PCBs in the country, it is the best time for businesses to invest and enter into PCB manufacturing in India. However, starting PCB manufacturing by setting-up the plant is not easy without the help and expertise of PCB consultants.
SolutionBuggy through its vast network of electronic consultants which includes PCB consultants, electronic design consultants, and many more can help you in setting-up the plant and start the manufacturing of PCBs. If you are planning to setup a PCB manufacturing plant then kindly register with SolutionBuggy, India’s though leader in the manufacturing industry. SolutionBuggy assists you in your end-to-end requirements right from plant setup, product development, quality checks to certification, approvals, packaging and distribution.
A Mumbai-based company that was planning to start PCB manufacturing industry was in search of a PCB consultant who can help them in assessing the project cost, machinery requirement, government’s regulations, etc. SolutionBuggy provided them with every detail they required including the project report, machinery requirements, regulatory compliances, etc., helping them successfully setup the PCB manufacturing plant. This is just one example which testifies SolutionBuggy’s contribution to India’s manufacturing sector. Apart from this, SolutionBuggy completed more than 600 consulting projects in the electronics manufacturing industry.