Yet the scale of the challenge remains great. India’s bare PCB requirement for FY24-25 was about $4.2 billion, and almost all of the demand was imported. This gap represents not only a vulnerability, but also a huge economic opportunity.
Why PCBs matter
Printed Circuit Boards (PCBs) are the operational backbone of modern electronics. They are used in crucial sectors: medical equipment, automotive systems, computers, defense, telecom and industrial machinery. Without a strong domestic PCB capability, true self-reliance in electronics is impossible.
India’s current pressure
By means of Make in Indiaelectronics focused PLI schemes, SPECSand the new one ECMSthe government has created a tailwind for PCB production. Several states – including Tamil Nadu, Karnataka and Telangana – are supplementing this with their own incentives, infrastructure support and cluster development. Global dynamics further strengthen India’s position. Technology tensions between the US and China, rising production costs in East Asia and a PCB market expected to reach $100 billion to $120 billion by 2030 are forcing companies to diversify their supply chains. India, with its scale, talent and policy momentum, is well positioned to take on a meaningful part of this shift. But to truly capitalize, India must go beyond existing plans. Four capability gaps still require targeted intervention.
1. Close the resource gap
LimitRaw materials account for almost 60% of PCB costs, while Copper Clad Laminate (CCL) contributes approximately 27%. While India is making progress towards full domestic CCL production, the ecosystem is still heavily dependent on imported copper foil, pre-pregs and specialty chemicals. This keeps Indian PCB production more expensive than global competitors.
Recommendation
As CCL becomes fully ‘Made in India’, the next priority should be localization of copper foil and key chemicals. Targeted incentives, cheap capital and upstream manufacturing support will reduce input costs and make Indian PCBs globally competitive.
2. Invest in PCB-focused research and development
Limit
Advanced PCB manufacturing – HDI cards, flexible PCBs, RF cards – requires precision engineering, specialized equipment and sustainable process R&D. India’s research investments in this area remain limited, limiting the industry to multi-layer base plates.
Recommendation
Establish dedicated PCB R&D centers to strengthen design, automation, materials science, signal integrity, and high-complexity manufacturing capabilities. This will help India climb the value chain and become a trusted supplier to global OEMs – and not just a domestic manufacturer.
3. Build a skilled technical workforce
Limit
PCB manufacturing is much more complex than device assembly. It requires skilled technicians and process engineers trained in optical alignment, chemical processing, multi-layer registration and advanced manufacturing techniques. India’s talent pool in these areas remains thin.
Recommendation
Launch of PCB-specific skills programmes, similar to the government’s EV-focused partnerships (e.g. with Shell India). These should include:
- special training laboratories
- structured courses in PCB manufacturing
- industry-oriented certification programs
A well-trained workforce will unlock India’s potential to produce high-quality PCBs at scale.
4. Strengthen coordination between the Center and the State
Limit
The expansion of PCBs depends on both central schemes (PLI, SPECS, ECMS) and state-level incentives. But these frameworks currently work in parallel rather than synchronously. Companies often struggle with:
- overlapping or conflicting policies
- inconsistent timelines
- varying compliance standards
This creates friction, delays investment and leads to underutilization of incentives.
Recommendation
Create a Unified Center-State PCB Facilitation Framework that integrates center and state incentives under a single-window mechanism. Key elements should be:
- joint task forces
- harmonized compliance processes
- coordinated infrastructure development
- predictable and fast payment of incentives
- strong public-private partnerships
This will make it easier to enter, scale and operate in the Indian PCB sector.
Conclusion: India’s moment – if it performs well
India has become a major electronics exporter, but the next step must be the production of the high-quality components in these products. By closing gaps in raw materials, R&D, skills and centre-state coordination, India can build a world-class PCB ecosystem.
The opportunities for investors are significant. PCB projects are capital intensive and time sensitive; those that build capacity in time will benefit the most as India transitions from an assembly-led economy to a global hub for high-quality electronic components.
(The author is founder and CEO of SAMCO Group)
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