Indigenous electronics production increased multifold in the last 10 years to reach Rs 9.52 lakh crore in 2023-24, the Economic Survey said, but pointed out that the industry has largely focused on assembly, making limited progress in design and component manufacturing.
However, India's electronics market represents 4 per cent of the global market, the survey, which was tabled in Parliament on Friday, said.
"Programmes such as Make in India and Digital India, along with improved infrastructure, ease of doing business, and various incentives, have boosted domestic manufacturing and drawn foreign investments.
"However, India's electronics market represents 4 per cent of the global market. The industry has largely focused on assembly, with limited progress in design and component manufacturing," the survey said.
According to the survey, domestic production of electronic goods has increased substantially from Rs 1.90 lakh crore in FY15 to Rs 9.52 lakh crore in FY24, registering a compo