India Set to Become Global Electronics Manufacturing Hub by 2026
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Greetings from the Mobility Magazine!
India’s electronic manufacturing industry is poised for remarkable growth expanding at an annual rate of 41% until 2026, according to a recent report by Equirus Securities.
This robust growth forecast is attributed to a confluence of factors, including the government’s concerted efforts to establish India as a hub for electronics manufacturing, evolving global trends in manufacturing, and the presence of skilled labour within the country. The report underscores a global shift towards India, with companies adopting the “China+1” strategy to diversify their manufacturing bases.
On the export front, mobile phones and Electronic Control Units (ECUs) dominate India’s electronic exports, with the United States and the UAE emerging as major export destinations. India’s electronic manufacturing sector is undergoing a trans[1]formative phase, positioning the nation as a global hub for electronics production.
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