India’s electronics manufacturing is at an ‘inflection point’, poised to almost quadruple between FY24-30 to $450 billion, compounding at around 25 percent CAGR, Nomura has said.
In a note dated September 11, Nomura listed out multiple catalysts driving this growth:
- Higher sourcing by global players like Apple/Samsung (~20-30% of requirement)
- Global IT hardware players (Lenovo, HP, Dell, others sourcing ~20% of global requirement)
- Rising electronics usage and a localization push in automobiles
- Usage in railways, telecom and defence, and stronger scale-up in the component ecosystem (display, PCB, semiconductors).
The note by Nomura said exports are likely to scale up faster at a ~35% CAGR, reaching $210 billion by FY30F, while domestic consumption should grow at a 15% CAGR.
Centre’s push for domestic manufacturing of electronics – led by Production Linked Incentive (PLI) schemes worth $20 billion – remains the key enabler to achieve this growth. More than half of this capital allocation has been made to manufacture semiconductors and electronic components.
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So wondering how India is gonna handle e-waste (responsibly). That’s where, companies like Ecoreco would immensely benefit through EPR credits and Recycling.
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