In recent years, India has emerged as a significant player in the global electronics manufacturing industry, attracting major investments from renowned companies.
The year 2023 has witnessed a series of strategic announcements and collaborations that are set to reshape the electronics landscape in the country.
This blog post provides an overview of the key developments in the Indian electronics sector.
10 Major Investments in Electronics Manufacturing in India
1. Foxconn’s Massive Investment in Bengaluru:
Foxconn, a major player in the electronics manufacturing industry, has declared its intention to invest up to $2.7 billion in setting up a new manufacturing unit in Bengaluru.
The company expresses confidence in the growth potential of the Indian market by focusing on the production of smartphone accessories in this facility.
2. TDK Corp’s Venture into Lithium-Ion Battery Production:
Japanese electronic parts maker TDK Corp has announced plans to manufacture lithium-ion battery cells for iPhones in India.
This move not only strengthens India’s position in the global supply chain but also aligns with the country’s push towards sustainable and renewable energy solutions.
3. Panasonic’s Expansion in Andhra Pradesh:
Panasonic, a well-established name in the electronics industry, has unveiled a 300 crore investment to expand its manufacturing capacity in Sri City, Andhra Pradesh.
This investment signifies the company’s commitment to leveraging India’s manufacturing capabilities and tapping into the vast consumer base.
4. Intel’s Collaboration for Accelerated Laptop Manufacturing:
Intel, a leading semiconductor manufacturer, has joined hands with multiple Indian companies to boost the manufacturing of laptops within the country.
This collaboration is expected to contribute to India’s efforts in becoming a hub for electronics production.
5. Apple’s Ambitious Investment Plans:
Apple, a tech giant, is set to invest a staggering $40 billion in India over the next five years.
This considerable investment aims to substantially increase Apple’s production capacity in the country, reflecting the company’s confidence in the Indian market’s potential.
6. Corning’s Facility in Tamil Nadu:
Corning, known for its Gorilla Glass, has announced a significant investment of 1,000 crores in a new facility in Tamil Nadu.
This facility is expected to play a crucial role in meeting the growing demand for high-quality glass used in various electronic devices.
7. Google’s Manufacturing Initiatives:
Google has unveiled plans to manufacture its Pixel 8 smartphones in India starting from 2024. Additionally, the tech giant has partnered with HP for the local production of Chromebooks.
These initiatives underline Google’s commitment to the ‘Make in India’ movement and its confidence in the Indian manufacturing ecosystem.
8. Micron’s 2.75B$ investment to build an ATMP fab in india
Micron, a leading American producer of memory chips, is building a semiconductor assembly and test (ATMP) facility in Sanand, Gujarat.
The project represents a total investment of $2.75 billion, with Micron contributing up to $825 million and the remaining funds coming from government incentives.
This is the largest foreign direct investment in India’s semiconductor sector and signifies a major boost to the government’s India Semiconductor Mission (ISM).
The facility is expected to create 5,000 direct and 15,000 indirect jobs over the next few years.
9. Tesla’s Impending Presence in India:
Tesla, the electric vehicle pioneer, is reportedly closing in on an agreement to establish a manufacturing facility in India within the next two years.
This move marks a significant step towards India’s ambition to become a hub for electric vehicle production.
10. VinFast Auto’s Entry into the Indian Market:
Vietnamese electric vehicle maker VinFast Auto, often considered a rival to Tesla, is actively seeking land in India for its planned manufacturing facility, particularly in Tamil Nadu.
This signals a growing interest from global electric vehicle manufacturers in the Indian market.
The electronics manufacturing landscape in India is experiencing a transformative phase, fueled by significant investments and strategic collaborations.
India positions itself as a key player in the global electronics supply chain, contributing to economic growth and technological advancement. Global giants establishing and expanding operations in the country drive this transformation.
The future of India’s electronics sector appears promising, with these developments fostering innovation, job creation, and a robust manufacturing ecosystem.