Russian media: India will expand the production and export of electronic products!
India is committed to becoming a global center for electronics manufacturing.
On July 1, Russian media "TV BRICS" published an article.
India is consolidating its position as a global center for electronics manufacturing through government support and growing product demand.
It is predicted that by the fiscal year 2027-2028, India's electronic product output may reach 330 billion US dollars.
The industry is expected to grow at an average annual rate of 27% by 2028.
Economic growth is driven by government support measures, including the production-linked incentive program, as well as strong demand for electronic products in industry and daily life.
It is predicted that the total value of India's electronic market, including imports, will reach 350 billion US dollars by 2028, with an average annual growth rate of 21.5%.
Domestic electronic consumption in the country is expected to increase from 110 billion US dollars to 215 billion US dollars.
Product exports may grow from 29 billion US dollars to 130 billion US dollars, nearly quadrupling.
Experts point out that the COVID-19 pandemic has prompted India to actively develop its domestic production. The country's advantages include a young and qualified workforce, competitive labor costs, and strong engineering and design capabilities.
Companies such as Apple and Foxconn have established factories in India, which also strengthens its position as a center for electronics development.
More companies are moving from simple assembly to full design cycles, which helps them increase profits and establish themselves in the global market.
Russian netizens expressed doubt, Elena D. said: Can India surpass China?
Original text: https://www.toutiao.com/article/1836404677660875/
Statement: This article represents the views of the author.