US $467.38 billion Maharashtra’s GDP in FY19-20
India's largest state as per GDP & 4th Largest with 8% MSMEs base (Growth of the Automotive Industry in India)
US $58.40 billion total export value of Maharashtra
India’s largest exporter with 22.7% of overall exports
In order to address the expanding sourcing needs of the electric vehicle (EV) sector, India is quickly becoming a significant global electronics manufacturing base. The constant integration of electronic components into both conventional and electric vehicles is what propels this growth. The "Make in India" campaign, one of the proactive measures taken by the Indian government, which aims to develop a talent pool of over 100,000 skilled chip design engineers by 2028, offers India great potential to become a centre for semiconductor design and innovation, promoting the creation of new technologies.
Overall, the outlook for India’s electronics industry beyond 2024 is positive with strong government investments and strategic positioning set to continue to drive growth and development in the sector.
Source: The Economics Times