India’s electronics production is set for a massive expansion, with overall electronics output projected to grow from about $10.5 billion in FY2024 to roughly $150 billion by FY2031, an increase of more than 14 times.

Mobile phone production is expected to rise from about $51 billion in FY2024 to around $159 billion by FY2031, effectively tripling over the period.

A Kotak Mutual Fund report notes that India aims to lift total electronics production to $500 billion by FY2031, with electronics components driving the surge.

Even as mobile devices remain a large segment, the growth strategy emphasizes expanding a broader mix of electronics products and components.

The report highlights a strategic shift toward a wider range of electronics manufacturing beyond mobile devices to reach the FY2031 target.

Other major categories are forecast to grow significantly: consumer electronics from $13 billion to $36 billion, IT hardware from $5 billion to $32 billion, wearables/hearables from $2.5 billion to $38 billion, auto electronics from $8 billion to $33 billion, telecom equipment from $3.5 billion to $15 billion, and others from $21.5 billion to $37 billion.

Telecom equipment is expected to increase from $3.5 billion to $15 billion, while the 'Others' category could rise from $21.5 billion to $37 billion.

Additional projections include consumer electronics climbing to $36 billion, IT hardware to $32 billion, wearables/hearables to $38 billion, and auto electronics to $33 billion.