The Rapid Growth and Prospects of the India PCB Industry

Are you eager to learn about printed circuit boards (PCBs) and I the burgeoning India PCB market?? PCBs are crucial for modern electronics, enabling compact, high-functioning devices. The global PCB market hit $75 billion in 2021 and is projected to grow at a 4.1% CAGR from 2021 to 2027. PCBs are integral to various industries, including consumer electronics, automotive, aerospace, and medical devices.

India has become a significant player in the PCB industry due to its robust electronics sector and supportive government policies. Valued at $2.75 billion in 2020, the India PCB market is expected to grow at a 17.43% CAGR from 2022 to 2028. The market value was $4.5 billion in 2022. This growth stems from factors like increased local manufacturing, rising electronic product demand, and ongoing tech advancements. This impressive growth rate shows that the India PCB industry is making a mark not just locally, but also globally

Why focus on “India PCB”? Firstly, India’s fast-growing PCB market highlights its potential as a global electronics powerhouse. Secondly, analyzing the India PCB market helps businesses, investors, and policymakers spot growth and collaboration opportunities. Lastly, studying the India PCB industry offers valuable insights into emerging markets’ challenges and triumphs in a competitive global setting.

Background of the India PCB industry

Evolution of the Indian electronics industry

You might be wondering how the Indian electronics industry got to where it is today. The journey began in the 1960s, when India started producing basic electronic components. Over time, the industry expanded to include semiconductors, telecommunication equipment, and consumer electronics. By the late 1990s and early 2000s, India’s IT and software sector boomed, paving the way for the electronics industry to flourish even further.

Emergence of the PCB sector

With the growth of the electronics industry came the need for PCBs. As demand for electronic products increased, both locally and internationally, Indian manufacturers saw an opportunity to establish themselves in the PCB market. As a result, the early 2000s witnessed a surge in the number of India PCB manufacturers, catering to various applications such as mobile phones, automotive electronics, and industrial automation.

Key milestones in the development of India PCB

India PCB has come a long way since its inception. Some notable milestones include:

  1. The launch of the Make in India campaign in 2014, which focused on boosting domestic manufacturing, including the electronics and PCB sectors.
  2. The National Policy on Electronics in 2019, which aimed to position India as a global electronics manufacturing hub.
  3. The rise of local PCB manufacturers like AT&S India, Epitome Components, and Shogini Technoarts, which have made significant strides in the industry.

These milestones have not only shaped the India PCB industry but also contributed to its rapid growth and promising future.

Key market segments and applications

The India PCB market caters to various segments and applications. Some of the most prominent ones include:

  1. Consumer electronics: Mobile phones, laptops, tablets, and other gadgets all rely on PCBs.
  2. Automotive: From infotainment systems to advanced driver-assistance systems (ADAS), PCBs play a critical role in modern vehicles.
  3. Industrial electronics: Automation, robotics, and control systems all depend on PCBs to function efficiently.
  4. Communication: Telecommunication equipment, routers, modems, and satellite systems all require PCBs to maintain seamless connectivity and data transfer.
  5. Computers: From desktops to servers, PCBs are the foundation of computing devices, ensuring smooth performance and reliability.
  6. Military & Aerospace: PCBs are essential for mission-critical systems, like radar, navigation, and communication equipment in military and aerospace applications, where durability and reliability are paramount.
  7. Medical Instrumentation: Modern medical devices, such as MRI machines, patient monitoring systems, and diagnostic equipment, rely on PCBs for accurate data processing and life-saving functionality.

The India PCB market’s versatility and wide-ranging applications showcase its significance in various industries, further highlighting its growth potential and importance in the global electronics landscape.

Major players in the India PCB industry

Let’s dive into some of the key PCB companies in India, ranging from small-scale manufacturers to large enterprises:

1. AT & S India Pvt Ltd:

Established in 1988 and located in Nanjangud, Karnataka, this subsidiary of Austria Technologie & Systemtechnik AG focuses on high-quality PCBs for automotive, mobile devices, and industrial electronics sectors.

2. Ascent Circuits Pvt Ltd:

Founded in 1999 and based in Hosur, Tamil Nadu, Ascent Circuits manufactures single, double, and multilayer PCBs for industries such as automotive, military, telecommunications, and aerospace.

3. Shogini Technoarts Pvt Ltd:

Launched in 1979, Shogini Technoarts operates from Pune, Maharashtra. They concentrate on high-tech PCB solutions for diverse markets, including consumer electronics, automotive, and medical.

4. Epitome Components Ltd:

With its inception in 1997, Epitome Components calls Ahmednagar, Maharashtra home. They produce single-sided, double-sided, and multilayer PCBs for various applications and sectors.

5. Circuit Systems India Ltd/PCB Power:

Set up in 1995 and situated in Gandhinagar, Gujarat, this company caters to the automotive, consumer electronics, and telecommunications markets with its wide range of PCB services.

6. Akasaka Electronics Ltd:

Established in 1987 in Navi Mumbai, Maharashtra, Akasaka Electronics specializes in PCB design and manufacturing for clients in industries like automotive, consumer electronics, and telecommunications.

7. Meena Circuits Pvt Ltd:

Launched in 1996, Meena Circuits is located in Baroda, Gujarat. They create high-precision PCBs for sectors such as aerospace, medical, and defense.

8. Fine-Line Circuits Ltd:

In operation since 1991, Fine-Line Circuits is based in Mumbai, Maharashtra. They supply PCB solutions for applications in telecommunications, industrial electronics, and more.

9. Micropack Ltd:

Set up in 1984 and situated in Bengaluru, Karnataka, Micropack concentrates on advanced PCB technologies for industries like aerospace, defense, and space.

10. Ace Circuits Pvt Ltd:

Founded in 2007 and located in Gandhinagar, Gujarat, Ace Circuits offers a comprehensive range of PCB services, including design, prototyping, manufacturing, and assembly.

11. BLG Electronics Ltd:

Launched in 1986 and based in Gandhinagar, Gujarat, BLG Electronics provides PCBs for diverse applications such as consumer electronics, medical devices, and industrial automation.

12. Sulakshana Circuits Ltd:

Established in 1987 and headquartered in Hyderabad, Telangana, Sulakshana Circuits focuses on double-sided and multilayer PCBs for industries like automotive and consumer electronics.

These companies are instrumental in propelling the India PCB industry forward, demonstrating its growth potential and influence on the global stage.

Factors propelling the India PCB industry’s growth

Government policies and initiatives

  1. Make in India campaign: This 2014 initiative aims to turn India into a global manufacturing powerhouse, bolstering the PCB sector by promoting local production and luring foreign investments.
  2. National Policy on Electronics: Launched in 2012, this policy supports the growth of the electronics industry, including PCBs, by offering incentives and nurturing innovation.
  3. Special Economic Zones: These areas, with their tax incentives and relaxed regulations, have drawn numerous PCB manufacturers, further fueling the industry’s growth in India.

Growing demand for electronic products

  1. Consumer electronics: The surging demand for devices like smartphones, tablets, and other gadgets in India has a direct, positive impact on the PCB industry.
  2. Automotive electronics: The increasing popularity of electric vehicles and cutting-edge automotive systems is driving the need for top-quality PCBs in the automotive sector.
  3. Industrial electronics: The widespread adoption of automation, robotics, and control systems across various industries has boosted the demand for dependable PCBs.

Increasing local manufacturing and investments

The move towards domestic manufacturing, along with substantial investments from both local and foreign firms, has been instrumental in the expansion of the India PCB industry.

Technological advancements and innovations

The industry’s continuous evolution is marked by technological breakthroughs and innovations in PCB design, materials, and manufacturing processes. This progress propels the growth of the PCB market in India, addressing the requirements of diverse sectors for high-performing, reliable, and efficient PCB solutions.

Challenges faced by the India PCB industry

Competition from other Asian markets

The India PCB industry faces stiff competition from established markets in Asia, like China and Taiwan. These countries have a long history of PCB production, benefiting from economies of scale, advanced technology, and lower manufacturing costs.

Infrastructure and supply chain issues

Inadequate infrastructure and supply chain inefficiencies pose challenges for the India PCB industry. In addition, inconsistent power supply, limited access to raw materials, and a lack of advanced machinery can hinder industry growth and affect product quality.

Skilled labor shortage and talent acquisition

The PCB industry requires a skilled workforce with expertise in various aspects of PCB design and manufacturing. However, India faces a shortage of skilled workers, making talent acquisition and retention a significant challenge for the industry.

Environmental concerns and regulations

The production of PCBs involves the use of hazardous materials and chemicals, raising environmental concerns. Complying with increasingly stringent environmental regulations can be challenging and costly for PCB manufacturers in India, impacting their competitiveness in the global market.

Future prospects and opportunities in the India PCB market

India PCB industry’s place in global supply chains

As global supply chains seek diversification, India’s PCB industry can seize the opportunity to solidify its position and become a vital player in the international market. By improving production capabilities, India can carve out a niche in the PCB supply chain.

Tapping into emerging sectors

Aerospace and defense: With India’s aerospace and defense industries on the rise, there’s a growing demand for advanced PCBs. This presents a lucrative opportunity for Indian PCB manufacturers to cater to these high-value markets.

Medical devices: The expansion of the healthcare sector and the need for sophisticated medical equipment also offer the India PCB industry a chance to produce and supply specialized PCBs for these applications.

Internet of Things (IoT) and 5G technologies: The widespread adoption of IoT devices and the emergence of 5G networks will create a spike in PCB demand. PCB industry in India can seize this opportunity by focusing on innovative and tailored solutions.

India’s potential to emerge as a global PCB hub

India’s huge market, skilled workforce, and government backing can pave the way for the country to become a global PCB manufacturing powerhouse. Moreover, by tackling existing challenges and capitalizing on its strengths, India can draw investments and collaborations from top global players.

Fostering academia-industry partnerships for R&D

To stay competitive, the India PCB industry must invest in research and development. Collaborative efforts between academia and industry can promote knowledge exchange, spur innovation, and help create state-of-the-art technologies that meet the ever-changing demands of various sectors.

Case studies of successful India PCB companies

Company 1: AT&S India – Background, achievements, and growth strategies

AT&S India, a subsidiary of Austria Technologie & Systemtechnik AG, has become a prominent player in the PCB market, specializing in high-quality PCBs for various industries. By focusing on innovation, quality, and customer satisfaction, AT&S India has secured a strong foothold in the market.

  • Key growth strategies include
  • investing in advanced technologies,
  • continuous improvement, and
  • fostering a skilled workforce to maintain a competitive edge

Company 2: Epitome Components – Background, achievements, and growth strategies

Epitome Components has made a name for itself by manufacturing single-sided, double-sided, and multilayer PCBs for a wide range of applications. The company’s success lies in its commitment to excellence, adherence to stringent quality standards, and timely delivery.

Epitome Components has adopted a customer-centric approach, along with investing in research and development, and embracing the latest technologies to stay ahead in the industry.

Lessons learned and best practices

From these case studies, we can glean some key takeaways for success in the India PCB industry:

  1. Invest in innovation and technology: Staying up-to-date with the latest advancements ensures that PCB manufacturers remain relevant and competitive in the market.
  2. Focus on quality and customer satisfaction: Prioritizing customer needs and maintaining high-quality standards help build long-lasting relationships and drive growth.
  3. Develop a skilled workforce: Cultivating a team of skilled professionals is crucial for achieving operational excellence and fostering innovation.
  4. Adopt a customer-centric approach: Understanding customers’ requirements and adapting to market changes allows companies to stay ahead of the competition and seize new opportunities.


Throughout our exploration of the India PCB industry, we’ve witnessed its vital role in the worldwide electronics scene. As various sectors depending on PCBs experience rapid growth, the India PCB market has emerged as a key player, catering to the ever-rising demand for top-quality and inventive solutions.

The future looks bright for the India PCB industry, with numerous opportunities for expansion in emerging sectors like aerospace and defense, medical devices, and IoT and 5G technologies. Moreover, India’s potential to become a global PCB hub is promising, given the supportive government policies and initiatives and the nation’s skilled workforce.

To unlock the true potential of the India PCB industry, stakeholders should join forces and tackle the challenges it faces. By investing in infrastructure, research and development, and cultivating talent, industry participants can drive the market forward. Cooperation between manufacturers, academia, and the government is paramount in shaping the future of the India PCB industry and securing its long-lasting success in the global arena.

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