India will be biggest manufacturing hub, by 2030
Strong Growth & Policy Support-
A Research and Markets study forecasts India’s manufacturing sector expanding at a 4.8% CAGR from 2025 to 2030, earmarked to become a "global manufacturing hub" thanks to new industrial corridors and foreign investment.
Under “Make in India 2.0,” sectors like electronics and medical devices receive incentives such as reduced corporate tax (from 22% to 15%) and production‐linked incentives (PLIs).
Electronics & Exports Boom
India’s electronics exports hit $29 billion in FY 2023–24, with projections doubling to $61 billion by 2030.
Tamil Nadu is emerging as the “iPhone capital of India,” producing 16–17% of global iPhones—expected to increase to ~35% by 2026–27.
Infrastructure & Corridors-
Massive infrastructure initiatives like PM Gati Shakti (a $1.2 trillion multi-modal plan), Bharatmala, and several industrial corridors (e.g. Chennai–Bangalore, Visakhapatnam–Chennai) streamline logistics and connectivity.
FDI & Economic Momentum
In FY 2023–24, India attracted US$18 billion in FDI into manufacturing.
To hit its goals, India must deepen workforce skills, expedite regulatory reforms, and scale logistics and energy systems.
If these initiatives stay on track—and if structural constraints are addressed—India is on a credible path to becoming one of the top three manufacturing hubs globally by 2030.