IESA Says India’s Electronic Market will Reach $1 Trillion by 2028

- Advertisement -
- Advertisement -

India Electronics and Semiconductor Association (IESA) views that 5G will boost the Electronics System Design and Manufacturing sector of the country

Anilkumar Muniswamy Chairman, IESA

According to the India Electronics and Semiconductor Association (IESA), the country’s electronics market will reach $1 trillion by 2028 following the growth in domestic production of mobile handsets.

“India’s electronics market is expected to reach to $600 billion by 2026 and $1 trillion by 2028 as per revised figure submitted to the government,” Anil Kumar Muniswamy, Chairman, IESA was quoted by ET. He added that around 147 mobile handset makers have started manufacturing operations in the country with 1 billion devices already being shipped.

- Advertisement -

5G a potential opportunity 

IESA views 5G as a potential opportunity for the Electronics System Design and Manufacturing (ESDM) sector. Rajesh Ram Mishra, President, IESA, said that 5G was one of the top opportunities that the Association recognised. Since then, it had been working closely with the government for deploying the 5G standards.

He added, “There will be massive opportunity in 5G era as everything will be moving to the cloud.” He believes that the new technology will play an enabling role in the electronics ecosystem.

Focus on PMA

The industry body said that the government should ensure Preferential Market Access (PMA) to startups which, according to it, can also look at opportunities worldwide with the government providing financial assistance.

Preferential market access tools are used by countries to control the import of products and encourage domestic manufacturing. PMA can also be seen as the practice of introducing policies that are designed to favour domestic firms.

IESA represents around 300 companies, comprising 70 startups. The government’s ‘Make in India’ initiative has promoted local production of electronic goods over the past few years. The sector is currently contributing $120 billion annually.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Exclusive

“More Chargers Provide Security And Confidence To Customers, Encouraging EV Adoption”

0
With an agenda to transform the EV industry, EarthtronEV has established 250+ charging stations on major highways across India. The company aims to interconnect...

5G RedCap To Transform IoT Module Shipments

0
Over 60% of IoT module shipments will originate from the Asian & Oceania region. Automotive sector is expected to be a significant driver. The...
XR Headset Quest 3, Meta

Global XR Headset Shipments See A Major Decline, Sony Rises

0
Sony grabbed a market share of 24% in 2023 up from 1% in 2022. Bulky form factor, and lag, hinder adoption by serious...

Buzz

Tenstorrent- RISC V cores

MosChip Collaborates With Tenstorrent For Advanced RISC-V Cores

0
Tenstorrent has selected Moschip due to their tape out expertise in design services. India’s MosChip Technologies has announced partnership with computing company Tenstorrent and to...

BYD Aims For 20% Increase In Yearly EV Sales

0
The company is targeting sales of 500,000 vehicles internationally this year, over twice the amount sold last year, and aims to increase that figure...

RRP Electronics To Invest ₹5000 Cr In OSAT and R&D In Maharashtra

0
Cricket legend Sachin Tendulkar is investing in this semiconductor facility. Such celebrated personalities investing in the sector could be a great asset to the...

Important Sectors

“More Chargers Provide Security And Confidence To Customers, Encouraging EV Adoption”

0
With an agenda to transform the EV industry, EarthtronEV has established 250+ charging stations on major highways across India. The company aims to interconnect...

BYD Aims For 20% Increase In Yearly EV Sales

0
The company is targeting sales of 500,000 vehicles internationally this year, over twice the amount sold last year, and aims to increase that figure...

RRP Electronics To Invest ₹5000 Cr In OSAT and R&D In Maharashtra

0
Cricket legend Sachin Tendulkar is investing in this semiconductor facility. Such celebrated personalities investing in the sector could be a great asset to the...

Subsidy Cuts Push E2W Makers Towards Budget Models

0
Electric two-wheeler manufacturers face reduced government subsidies and growing competition from established petrol vehicle brands in the upcoming fiscal year. These challenges compel them...

Nissan To Invest In Renault’s Ampere For EV Roadmap

0
The alliance aims to introduce both five-seater and seven-seater models for each brand in India. Japan's Nissan Motor has committed to investing in Renault's electric...

Manufacturing

JLR To Hire 250 Electrical Technicians For Future EVs

0
These new roles, part of a £15 billion investment, are in addition to 300 positions created last year by the British car maker. Jaguar Land...

Altmin India Partners With WMG To Advance Battery Tech

0
Altmin and WMG will collaborate to strengthen their global battery materials supply chain position by optimizing cathode materials and developing diverse cell designs across...

EVs To Cost Less Than Gas Vehicles by 2027, Says Gartner

0
Gartner predicts a faster decline in production costs compared to battery costs, which represent the most significant expense in an electric vehicle, accounting for...
MG

MG Motor To Set Up Battery Assembly Unit At Halol Facility

0
The company plans to investigate battery cell production in collaboration with external partners. Automaker MG Motor India is actively exploring the possibility of assembling and...

Servotech Boosts India’s EV Charging Infrastructure With Manufacturing Facility

0
The new facility is poised to start with an annual production capacity of 24,000 power modules and plan to scale up to 2.4 lakh...