India’s Electronics Manufacturing Sector to Earn US$ 115 Billion in 2024 - News

The India Cellular and Electronics Association (ICEA) predicts a US$ 115 billion Indian electronics manufacturing sector in 2024, growing 15 percent. Pankaj Mohindroo, Chairman, ICEA, attributed this outstanding rise to the mobile phone segment, which is expected to contribute over US$ 50 billion by the end of the fiscal year. Mobile phone shipments rose to US$ 9 billion in April-November, up from $6.2 billion last year. 
In March 2024, Indian electronics’ main sector, mobile phone production, is predicted to exceed US$ 50 billion (up from US$ 42 billion last year). India is increasing electronics manufacturing as it concentrates on value addition and product development, and Google’s Pixel smartphone production will begin in India in the first quarter of 2024.
Mohindroo said India’s electronics manufacturing self-reliance is promising and commended PCBA, charger, battery pack, and cable localization. Government semiconductor ecosystem efforts are proceeding despite recent failures, including the Vedanta-Foxconn semiconductor facility joint venture’s abrupt breakdown. Tata Electronics, Foxconn, and HCL Group want to establish semiconductor plants for modern electronics.