India's goal of becoming the third-largest global economy necessitates a more ambitious vision for its technology-driven sectors to achieve a USD 500 billion target in electronics manufacturing by FY 2030 which would create as many as 6 million jobs, according to a NITI Aayog report released on Thursday.

• The report titled “Electronics: Powering India’s Participation in Global Value Chains,” extensively analyses India’s electronics sector, emphasising its potential and challenges.
• It also outlines specific interventions needed for India to emerge as a global manufacturing hub for electronics.
• India’s electronics sector has experienced rapid growth, reaching USD 155 billion in FY23. Production nearly doubled from USD 48 billion in FY17 to USD 101 billion in FY23, driven primarily by mobile phones, which now constitute 43 per cent of total electronics production.
• India has significantly reduced its reliance on smartphone imports, now manufacturing 99 per cent domestically.