According to a CareEdge Ratings report, India’s electronics system design and manufacturing (ESDM) market is poised to double and reach Rs 7-8 trillion by 2030.
The report estimates that the industry will expand at a rapid compound annual growth rate (CAGR) of 20-25 per cent over the next five years, driven by the demand for smartphones, consumer electronics, and automotive electronics.
The smartphone category has become the mainstay of India’s ESDM landscape, accounting for 62 per cent of the overall market in financial year 2024-25 (FY25). Meanwhile, between FY20 and FY25, this segment recorded a strong CAGR of 28 per cent, supported by rising incomes, deeper smartphone adoption, and wider penetration of smart devices across metros and smaller towns.
Similarly, India’s smartphone manufacturing base has undergone a major transition over the past decade. From being heavily import-reliant, the country now manufactures nearly 99 per cent of the smartphones sold domestically.
Additionally, the report highlights that policy support and shifting global supply chains are playing a pivotal role in this transformation.
