New Delhi, 3 October (IANS). The size of India’s electronics system design and manufacturing (ESDM) industry is expected to double by 2030 to reach Rs 7-8 lakh crore. This information was given in a report released on Friday.
According to CARAMARE Ratings reports, the industry may increase by 20–25 percent rapid compound annual growth rate (CAGR) in the next five years due to strong demand for smartphones, consumer electronics and automotive electronics.
The smartphone segment has emerged as the backbone of India’s ESDM industry, which contributed 62 percent to the total market in FY 25.
Between FY 20 and FY 25, the segment increased with a strong compound annual growth rate (CAGR) of 28 percent, which gained increasing income, increasing popularity of smartphones and wide access to smart devices in cities and small towns.
The report stated, “The segment is estimated to grow from 23–25 percent compound annual growth rate (CAGR) during FY 2025-30 of this segment, which further reinforces its role as the primary engine of both volume growth and technological progress in the industry.”
There has been a big change in India’s smartphone manufacturing ecosystem in the last decade. Earlier, most of the smartphones sold in the country were imported. At the same time, now 99 percent of smartphones available for sale in India are made domestically.
The value of smartphones to be manufactured in the country has increased to Rs 4.22 lakh crore in FY 24, which was Rs 18,900 crore in FY14.
The annual shipment has crossed 15 million units in a row, and by FY 2025, India produced more than 325–330 million smartphones annually.
The report stated that exports have also increased rapidly, which is more than 36 percent of production, compared to only 8 percent in 2015.
-IANS
ABS/