New Delhi, Dec 2 || Driven by government initiatives like production-linked incentive (PLI) scheme, the electronics manufacturing services (EMS) sector is likely to grow to Rs 6 lakh crore in FY27 from Rs 1.46 lakh crore in FY22, and do well over short to medium term, a report showed on Monday.
The electronics manufacturing sector is on the cusp of a transformative journey, projected to grow at a robust CAGR of 26 per cent between the calendar year 2023-2030, reaching $500 billion.
India is emerging as a preferred global destination for electronics manufacturing due to increasing assembly activities and unprecedented demand in the electronics manufacturing services (EMS) sector, particularly in mobile phones, automotive, and industrial segments, according to the report by Motilal Oswal Wealth Management Ltd.
Favourable government policies such as the PLI schemes and the Semicon India programme, increasing domestic demand, and a robust push toward self-reliance is further propelling the opportunity.
Motilal Oswal Wealth Management designed a basket with five companies which would benefit from substantial growth opportunities in the EMS space.
CG Power is engaged in the design, manufacturing, and marketing of products related to power generation, transmission, and distribution. It manufactures voltage motors, breakers, switchgears and power monitors.