India’s electronics manufacturing ecosystem is entering a decisive growth phase as the country aims to reduce import dependency and strengthen domestic value addition. Printed Circuit Boards (PCBs), the backbone of all electronic devices, are central to this transformation. As of 2026, India continues to rely heavily on imports for multilayer and high-density interconnect (HDI) PCBs, particularly from China, Taiwan, and Southeast Asia. However, rising localization mandates, production-linked incentives, and expanding demand from sectors such as consumer electronics, automotive, telecom, and defense are accelerating investments in domestic PCB manufacturing. With India targeting USD 500 billion in electronics production by 2030, the PCB segment is set to witness sustained growth through 2035.
What’s Driving the PCB Market in India?
Surging Electronics Manufacturing and Smartphone Production
India has emerged as one of the world’s largest smartphone assembly hubs, with global manufacturers expanding local production capacities. Every smartphone, laptop, wearable, and industrial device relies on multiple PCBs for functionality. The rapid expansion of electronics manufacturing clusters in Tamil Nadu, Uttar Pradesh, and Karnataka is driving demand for single-sided, double-sided, and multilayer PCBs. Additionally, increasing domestic consumption of electronics, supported by rising disposable incomes and digital penetration, is further strengthening demand fundamentals.
Expansion of Automotive and EV Ecosystem
The shift toward electric mobility is significantly increasing PCB consumption per vehicle. Electric vehicles (EVs) require advanced PCBs for battery management systems (BMS), power electronics, infotainment systems, and advanced driver assistance systems (ADAS). Government support under the FAME scheme and state-level EV policies are accelerating EV adoption. As automotive electronics content per vehicle rises, the demand for high-reliability and thermally efficient PCBs is expected to grow steadily through 2035.
Telecom Infrastructure and 5G Rollout
The nationwide 5G rollout led by operators such as Reliance Jio and Bharti Airtel has increased demand for telecom-grade PCBs used in base stations, routers, and network equipment. Additionally, India’s push toward indigenous telecom equipment manufacturing under the “Make in India” initiative is encouraging local PCB sourcing. As data consumption rises and 6G research gains momentum toward the end of this decade, telecom infrastructure upgrades will remain a strong demand driver.
Government-Led Initiatives Strengthening Domestic Manufacturing
The Government of India has introduced Production Linked Incentive (PLI) schemes for large-scale electronics manufacturing and IT hardware, indirectly supporting PCB demand. Moreover, the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) provides financial incentives for capital expenditure in component manufacturing, including PCBs. In parallel, the development of semiconductor fabrication and display manufacturing facilities is expected to create a more integrated electronics supply chain. As India builds upstream capabilities, PCB manufacturing is likely to benefit from ecosystem synergies, reduced logistics costs, and improved supplier networks. The policy emphasis is shifting from assembly-led growth to deeper localization, which places PCBs at the center of strategic industrial planning.
Market Competition and Industry Structure
The India PCB market remains moderately fragmented, with a mix of domestic manufacturers and global suppliers serving OEMs. Domestic players largely cater to low- to mid-complexity boards, while high-end multilayer and HDI boards are predominantly imported. Companies such as AT&S have announced investments in India to cater to advanced PCB demand, particularly for automotive and industrial applications. Meanwhile, local manufacturers are expanding capacity to serve consumer electronics and industrial automation segments. Strategic partnerships, technology transfers, and joint ventures are expected to increase as India attempts to bridge its technology gap in advanced PCB fabrication.
High Import Dependency and Technology Gaps
Despite strong demand growth, India remains significantly dependent on imports for advanced PCBs. As of 2026, a large share of multilayer, HDI, and flexible PCBs are sourced from overseas suppliers due to limited domestic fabrication capabilities and higher capital requirements. This dependency exposes manufacturers to supply chain disruptions, currency volatility, and longer lead times. Additionally, domestic players face challenges such as high power costs, limited access to advanced raw materials (like copper-clad laminates), and environmental compliance requirements associated with PCB manufacturing. Addressing these structural constraints will be critical to achieving meaningful localization.
Future Outlook
The India Printed Circuit Board market is expected to witness robust growth through 2035, supported by expanding electronics manufacturing, EV penetration, telecom upgrades, and defense modernization. By 2030, India is projected to significantly increase domestic value addition in electronics, with PCBs forming a core component of this transition. By 2035, the market is likely to evolve toward higher technological sophistication, including growth in multilayer, HDI, and flexible PCBs. Increased automation, improved quality standards, and environmentally sustainable manufacturing practices will shape competitive dynamics. As global firms diversify supply chains beyond China, India has the opportunity to position itself as a reliable PCB manufacturing hub in Asia.
Consultants at Nexdigm, in their latest publication “India Printed Circuit Board Market Outlook to 2035”, analyzed the market by PCB Type (Single-Sided, Double-Sided, Multilayer, HDI, Flexible), By End-User Industry (Consumer Electronics, Automotive, Telecom, Industrial, Defense), and By Region (North, South, West, East India). Nexdigm believes that businesses should prioritize technology upgradation, backward integration into raw materials, and strategic global partnerships, while leveraging government incentives to reduce import dependency and enhance India’s competitiveness in the global PCB value chain.
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Harsh Mittal
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