New Delhi

Indiais targeting annual electronics and semiconductor production worth $500 billion by 2030 as part of its broader vision to transform into a developed nation by 2047, a senior government official said on Thursday.

Addressing the Indo-German Chamber of Commerce (IGCC) Dialogue 2026 here, Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Amardeep Singh Bhatia said the government's Viksit Bharat roadmap has translated the 2047 vision into sector-specific action plans with clearly defined milestones for 2030.

Highlighting the electronics and semiconductor sector, Bhatia said India aims to scale annual production from the current baseline of around $330 billion to $500 billion by 2030, before expanding further to between $5.3 trillion and $8 trillion by 2047.

"These targets will unlock significant manufacturing opportunities," he said, adding that the government's long-term plans cover both economic and social sectors and are designed to accelerate industrial growth.

Bhatia said India continues to remain one of the world's fastest-growing major economies, supported by a sustained focus on reforms and implementation over the past decade.

He noted that reform efforts have gathered further momentum in the last three years through high-level committees working on sector-specific initiatives.

He also highlighted the role of a deregulation cell in the Cabinet Secretariat, which is working with states to simplify regulations and improve the ease of doing business. On India-Germany economic ties, Bhatia said the two countries share more than 25 years of strategic partnership and 75 years of diplomatic relations, while business engagement between them dates back over a century.

He noted that several German companies had established operations in India even before Independence and said the bilateral partnership has strengthened further in recent years with increasing business delegations and investments.

Bhatia added that the Indo-German Chamber of Commerce, with more than 2,500 members, reflects the depth of commercial ties between the two countries and offers a strong platform to further deepen economic cooperation.