The Electronic Components Manufacturing sector in India is gaining significant momentum, marked by robust government support and strategic initiatives aimed at transforming the country into a global electronics hub. As of March 2023, the electronics market in India was valued at $101 Bn, with an ambitious target of reaching $300 Bn by 2025-26. The Production Linked Incentive schemes have played a pivotal role, boosting production and attracting substantial investments from major global players such as Apple and Samsung. The Ministry of Electronics and Information Technology (MeitY) has spearheaded several key initiatives, including the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) and the Modified Electronics Manufacturing Clusters (EMC 2.0) scheme, which aim to create world-class infrastructure and encourage investment in high-value components.

The sector has seen a notable increase in exports, with electronic goods exports reaching $29.12 Bn in FY 2023–24, marking a 23.6% rise from the previous year. The National Policy on Electronics 2019 underscores the government's commitment to developing a $300 Bn electronics manufacturing ecosystem by 2026.

Government initiatives are further supported by the Make in India and Digital India campaigns, which aim to enhance domestic manufacturing, create employment opportunities, and advance technological capabilities. Significant investments in research and development, as well as the establishment of electronics manufacturing clusters, have created a conducive environment for growth.

The focus on the Electronic Components Manufacturing sector is crucial for meeting the rising domestic demand driven by rapid digitalization and urbanization and for integrating India into the global supply chain. This sector's development is essential for driving economic growth, fostering innovation, and positioning India as a key player in the global electronics market. The government's comprehensive approach, combining policy support, infrastructure development, and incentives, underscores the strategic importance of this sector in achieving India's long-term economic and technological goals.