New Delhi, July 30, 2026 (Yes Punjab News)
India is aiming to achieve annual electronics and semiconductor manufacturing worth $500 billion by 2030 as part of its Viksit Bharat vision to become a developed nation by 2047, Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Amardeep Singh Bhatia said on Thursday.
Addressing the Indo-German Chamber of Commerce (IGCC) Dialogue 2026 in New Delhi, Bhatia said the government’s Viksit Bharat roadmap has translated the long-term national vision into sector-specific action plans with clearly defined milestones for 2030.
He said the electronics and semiconductor sector is expected to play a pivotal role in India’s manufacturing growth, with annual production targeted to rise from the current level of around $330 billion to $500 billion by 2030. Looking ahead, the sector is projected to expand further to between $5.3 trillion and $8 trillion by 2047, in line with the country’s long-term development goals.
“These targets will unlock significant manufacturing opportunities,” Bhatia said, adding that the roadmap covers both economic and social sectors and is designed to accelerate industrial expansion.
Highlighting India’s economic trajectory, the DPIIT Secretary said the country continues to be among the world’s fastest-growing major economies, driven by sustained reforms and effective implementation over the past decade.
He noted that reform initiatives have gained additional momentum over the past three years through high-level committees focusing on sector-specific priorities. He also pointed to the role of the Cabinet Secretariat’s deregulation cell, which is working with state governments to simplify regulations and improve the ease of doing business across the country.
Speaking on India-Germany economic relations, Bhatia said the two countries share over 25 years of strategic partnership and 75 years of diplomatic ties, while commercial engagement between Indian and German businesses dates back more than a century.
He observed that several German companies established operations in India even before Independence and said bilateral economic cooperation has expanded in recent years through growing investments and frequent business delegations.
Bhatia also highlighted the contribution of the Indo-German Chamber of Commerce (IGCC), which has more than 2,500 members, describing it as an important platform for strengthening trade, investment and industrial collaboration between the two countries.
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