What’s in for India’s electronics Industry in 2024(summarised)

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1)Growth and Value Addition:

• India’s electronics manufacturing sector is expected to grow 15% in 2024 to reach USD 115 billion.
• Increased focus on higher value addition in both components and product development.
• Mobile phone production to surpass USD 50 billion, with exports reaching USD 15 billion by FY24 (35% growth).

2)Mobile Phone Industry:

• “Poster boy” of Indian electronics manufacturing.
• Near self-reliance achieved in PCBAs, chargers, batteries, and cables.
• Doubts raised by former RBI chief Rajan on value addition, countered by ministers who point to 60% local value addition in some products and future potential for significant component exports.

3)Semiconductor Ecosystem:

• Breakthrough with Micron’s USD 2.75 billion memory chip plant project.
•  Vedanta-Foxconn joint venture break-up, but Tata, Foxconn, and HCL have submitted separate applications for chip plants.
• Fabless chipset company MediaTek open to sourcing locally-made chips in the future.

4)Value Addition:

• Mobile devices have seen value addition increase from 5-6% to up to 28%.
• Push needed for “design in India” products to further enhance value addition.
  Telecom PLI beneficiary GX Telecom emphasizes localization with components and PCBA designs already produced in India.
• C-DoT’s efforts in local product development and design bearing fruit.