India targets $500 billion electronics manufacturing by FY31: Kotak report
India is setting its sights on a massive $500 billion electronics manufacturing goal by FY31, according to Kotak Mutual Fund.
The report says electronic components will jump from $10.5 billion in FY24 to $150 billion, more than 14-fold!
Mobile phones are leading the charge, with production expected to more than triple from $51 billion to $159 billion.
India's electronics expansion extends beyond mobiles
Consumer tech like TVs and audio gear could nearly triple, hitting $36 billion by FY31.
IT hardware (think laptops and tablets) might grow more than sixfold, reaching $32 billion.
Wearables and hearables are set for a huge leap too, from just $2.5 billion in FY24 up to $38 billion.
India's also expanding into auto electronics and telecom equipment, aiming for $33 billion and $15 billion respectively, showing it's not just about phones anymore.