India’s bare PCB manufacturing set for 45% CAGR surge

India’s domestic manufacturing of bare printed circuit boards (PCBs) is poised to expand at a compound annual growth rate of 45% through FY29, driven by demand from the electronics industry, government incentives and a shift toward high-value complex PCBs, Avendus Capital said in a report.

The bare PCB market in India currently is worth $5 billion, with an 88% import dependence. Domestic production is expected to expand from $0.6 billion in fiscal 2024 to $3.8 billion by FY29, reducing the dependence on supplies from abroad to 69%, the financial…