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There is going to be a record increase in demand for electronic components, this government initiative will make it possible

Sagar Patel

By Sagar Patel

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The coming time belongs to India. It is from the Indian industry. It is about India’s progress. One of the main reasons for this is that India is fast becoming the hub of the manufacturing sector. A recent report states that demand for electronic devices and their assembly parts is expected to increase five-fold to $240 billion by 2030.

The report released by industry body CII states that these include some important components like motherboard, lithium-ion battery, camera module, etc., which are imported on a large scale. The report recommends that the government introduce modified electronic parts production linked incentive (PLI) schemes with higher incentives in the range of 35 to 40 per cent to reduce dependence on imports.

What does the report say?

According to the report released by the Confederation of Indian Industry (CII), the demand for components and sub-assemblies to support electronics production of $102 billion last year was $45.5 billion. This demand could rise to $240 billion to support $500 billion of electronics production by 2030. Major components and subassemblies, including PCBA, are projected to grow at a solid 30 percent CAGR to reach 139 billion dollars by 2030.

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Lithium-ion batteries will be in demand

The report identifies batteries (lithium-ion), camera modules, mechanical components (cases, etc.), displays and PCB components and sub-assemblies as high priorities for India, which will cumulatively drive component demand in 2022. The ratio It was 43 percent and is likely to rise to $51.6 billion by 2030. The report says that these components are either nominally produced in India or heavily dependent on imports. Maintaining this trend of importing priority components is not in the country’s interest.

Sagar Patel

Sagar Patel

I am Sagar Patel, specializing in business news reporting. With a keen focus on economic trends, market analysis, and corporate developments,

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