India is poised for significant growth in its technology and electronics sectors, according to multiple reports. The Confederation of Indian Industry (CII) emphasizes the need for India to transition from 'import dependent, assembly led manufacturing' to 'component level value-added manufacturing' to transform its electronics sector, ANI reported. Additionally, India's electronics component manufacturing is projected to reach $240 billion by 2030, creating 280,000 jobs by 2026. The country's IT and business services market is expected to grow to $20.7 billion by 2028. Furthermore, India plans to spend over $6 billion on artificial intelligence (AI) and GenAI by 2027, with digital spending by IT companies anticipated to increase by 13% to over $26 billion in 2024, according to IDC.
#TechWithMC | IT companies could expect digital spending to increase by 13% to over $26 billion in 2024. @shaw_reshab gets you more updates 👇 https://t.co/aTsM8rNRzc #IT #DigitalIndia #Technology
#FPTech: India to splurge over $6 bn on GenAI by 2027, finds IDC report https://t.co/k3Vexx4312
IT companies' digital spending to increase by 13% to over $26 billion in 2024 By @shaw_reshab https://t.co/tktLQD3IvL via @moneycontrolcom
#FPTech: India to splurge over $6 bn over GenAI by 2027, finds IDC report https://t.co/k3Vexx4312
India to spend $6 billion on AI by 2027, IDC reports #AI https://t.co/L5bzn6f5j2
India electronics component manufacturing to hit $240 bn by 2030, create 2.8 lakh jobs by 2026 Read: https://t.co/8oeVF8VPAx https://t.co/zwqZejZGj2
India's IT & business services market to reach $20.7 billion by 2028: Report Read: https://t.co/YHN6MhbqNf https://t.co/2qBvfuIcKd
#India needs to take actions to transform its electronics sector from 'import dependent, assembly led manufacturing' to 'component level value-added manufacturing', highlights a report by the Confederation of Indian Industry (CII), ANI wrote. Read more: https://t.co/Dcwd65meeL