New Delhi, Sep 10 (IANS) As India charts its journey towards becoming a ‘Viksit Bharat’ by 2047, global investment bank Jefferies has highlighted what it calls “India’s New Industrial Revolution”, driven by a large domestic market, rising private-sector participation and sustained policy support across six high-growth sectors.
India’s large domestic opportunity, rising private participation and government support are driving the expansion of new industries, with growing domestic capacity and global competitiveness, the report noted.
The Jefferies report specifically points to measures such as opening space to private players, tax holidays for data centres, incentive schemes for semiconductors, electronics and solar, localisation measures and government GPU purchases as key enablers of growth across these emerging sectors.
According to the report, India is among a handful of spacefaring nations with globally competitive capabilities.
The space economy is targeted to grow 5 times to $40–45 billion by 2030, with private firms such as Skyroot, Pixxel and Agnikul moving towards commercial execution.
In the field of semiconductors, India’s push is moving from policy to execution, with around $20 billion worth investment, a chip fab under construction and several OSAT projects starting production.
A further $13 billion incentive plan is expected to deepen the semiconductor ecosystem, said the report.
Moreover, India’s data centre capacity has grown 5 times in five years to 2 GW and is expected to reach 10 GW in the next five years, creating a $45 billion investment opportunity across power, cooling, construction and networks.
When it comes to electronics manufacturing, India is moving from assembly towards higher domestic value addition and component manufacturing.
It expects domestic value addition in mobile components to rise from below 20 per cent to around 50 per cent over the next 6 years, said the report.
India is now the world’s second-largest solar PV manufacturer, with 35 GW of cell capacity operational and another 100 GW under construction.
Jefferies expects 90 per cent of the solar value chain to be localised by 2030.
India is also emerging as a beneficiary of the global aerospace demand-supply imbalance, supported by cost-competitive manufacturing and engineering talent.
Notably, Boeing and Airbus already source $1.4-1.6 billion annually from India, while Indian firms are supplying global OEMs and Tier-1 companies, said the report.
–IANS
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