India sets US$500 billion electronics manufacturing target by 2030

India is aiming to increase annual electronics and semiconductor production to US$500 billion by 2030 as part of the Viksit Bharat development roadmap, which sets out sector-specific goals on the path towards becoming a developed nation by 2047.

The target was announced by Amardeep Singh Bhatia, Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), as reported by IANS, a TV BRICS partner.

According to the official, India’s electronics and semiconductor industry is expected to grow from its current production level of around US$330 billion to US$500 billion annually by 2030. In the longer term, the country aims to expand the sector’s output to between US$5.3 trillion and US$8 trillion by 2047.

Bhatia said the Viksit Bharat roadmap has transformed India’s 2047 development vision into practical sector-based strategies with clear objectives and timelines for the next decade.

The government’s plans cover both economic and social sectors, with a focus on accelerating industrial expansion, strengthening manufacturing capabilities and creating new opportunities across high-technology industries.

India has maintained its position as one of the world’s fastest-growing major economies, supported by a decade-long programme of structural reforms and policy implementation. In recent years, reform initiatives have gained additional momentum through specialised government committees focused on sectoral development.

Authorities are also working to simplify regulations and improve the business environment through a dedicated deregulation mechanism operating with state governments.

India’s development strategy places increasing emphasis on building domestic capabilities in advanced manufacturing, strengthening supply chains and establishing the country as a major global hub for electronics and semiconductor production.