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The India printed circuit board (PCB) market attained a value of USD 5.35 Billion in 2025 and is projected to expand at a CAGR of 18.10% through 2035. The market is further expected to achieve USD 28.24 Billion by 2035. Increasing use of AI infrastructure, aerospace electronics, and local semiconductor packaging is leading to the creation of continuous demand for technologically advanced multilayer, flexible, and reliable PCBs made using locally automated manufacturing ecosystems.
The India printed circuit board (PCB) market is experiencing growth due to the increase in the manufacture of electric vehicles, where advanced battery management systems, power electronics, and vehicle control units need complex multilayer PCBs with improved thermal efficiency. At the same time, increasing investments in data center infrastructure and 5G network infrastructure are creating demands for high-frequency and low-loss PCB materials that allow for higher speed data transfer.
There is an interesting shift in the India printed circuit board (PCB) market strategy with global electronics manufacturers increasing their local sourcing by developing their advanced manufacturing operations. In December 2025, Syrma SGS Technology developed PCB manufacturing capabilities for automotive electronics, industrial automation, and medical devices besides developing their manufacturing processes for multilayer PCB. This is in line with India's growing ambitions in electronics manufacturing. The overall electronics manufacturing output in India cross USD 130 billion in FY2025, according to the Ministry of Electronics and Information Technology.
PCB companies are increasingly focusing on going past the traditional assembly stage to provide high-density interconnect boards, flexible PCBs, embedded component technologies, and PCBs for AI servers, EVs, and communication equipment among other products. Companies in the India printed circuit board (PCB) market are making significant investments in automated optical inspection, laser direct imaging, and digital manufacturing platforms to help with better production processes and shortened lead times as well as meeting stringent quality requirements internationally. For example, in November 2025, Delvitech announced plans to invest INR 354 crore to establish Bengaluru-based AOI machine manufacturing, strengthening India's electronics production ecosystem by 2026. Domestic manufacturers are also partnering strategically with global technology players in order to overcome capability limitations in advanced PCB manufacturing as well as export to North America and Europe.

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Tata Electronics announced plans to set up the first Indian semiconductor wafer fab facility at Dholera to produce mature-node chips and provide better semiconductor and PCB localization through the project. Manufacturers can therefore work with domestic semiconductor makers to form integrated electronics manufacturing ecosystems, reshaping the India printed circuit board (PCB) market dynamics.
An electronics manufacturing project announcement from the Government of India paved the way for advanced multi-layered PCB manufacturing locally which will save import of INR 40,000 crore worth PCBs every year. PCB fabrication, laminate, chemical, and precision component manufacturing facilities can be established to support the growing requirements of electronics manufacturing companies.
Crown Defence commissioned an indigenous PCB assembly plant in Goa to produce highly reliable electronic assemblies meant for use in defense and strategic applications, contributing towards self-sufficiency in critical electronics manufacturing in India. Companies in the India printed circuit board (PCB) market can therefore expand their footprint through localization of special PCB manufacturing activities.
Wipro Electronics announced plans to set up a USD 60 million PCB manufacturing plant in Bengaluru North, increasing the domestic manufacturing capability for advanced printed circuit boards and helping out with the growing ambition of India for electronics manufacturing and exports.
The Production-Linked Incentive (PLI) Scheme for Large Scale Electronics Manufacturing and the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) is making investments favorable across the India printed circuit board (PCB) market value chain. The manufacturers are ramping up production to lessen dependence on imports of PCBs and components and improve their supply chain resilience. Companies are focusing on automotive electronics, telecom devices, and automation applications. For example, in June 2026, Amber Enterprises' IL JIN Electronics partnered with Germany's Schweizer Electronic to strengthen automotive and industrial PCB manufacturing.
The growth of the electric vehicle ecosystem in India is creating increased demand for advanced multilayer and high-reliability PCBs employed in battery management systems, onboard chargers, motor controllers, and driver-assistance systems. Producers are manufacturing PCBs that can operate at higher temperatures and with increased power density and have a long service life, boosting demand in the India printed circuit board (PCB) market. The government through the PM E-DRIVE Program and state electric vehicle manufacturing policies is continuously creating incentives for investment in vehicle manufacturing plants. For example, in September 2025, Andhra Pradesh approved an INR 856 crore incentive package for India's largest PCB manufacturing facility, accelerating domestic multilayer, HDI, and copper clad laminate production.
The development of semiconductor fabrication facilities in India offers opportunities for advanced PCB manufacturers who specialize in packaging, testing, and electronic assemblies of chips. The government initiatives in the semiconductor industry promote investment in ancillary industries such as substrates, specialty materials, and precise PCB fabrication. Companies are investing in manufacturing processes involving laser direct imaging, automatic optical inspection, and digital control systems to conform to international standards, accelerating the India printed circuit board (PCB) market expansion. For example, in July 2026, Cadence launched AuraStack AI, accelerating PCB and IC packaging design through intelligent automation and engineering optimization.
The defense modernization program of India and aerospace manufacturing is creating continuous requirements for highly reliable PCBs, which can function in adverse conditions. Manufacturers are making investments in state-of-the-art testing facilities, PCBs with high layers, and special materials, which conform to military and aerospace standards. The initiatives by the government for defense indigenization through the Atmanirbhar Bharat campaign are encouraging the manufacture of electronic subsystems, creating new opportunities in the India printed circuit board (PCB) market. For example, in March 2026, Raneal launched oversized PCB assembly facility, advancing India's large-format electronics manufacturing for defense and aerospace applications.
The fast implementation of hyperscale data centers and 5G technology throughout the nation is boosting the requirement for high-frequency and low-loss PCBs that might help transmit data rapidly and minimize signal interferences. Companies in the India printed circuit board (PCB) market are now spending on advanced laminate substrates, advanced fabrication techniques, and automated testing equipment in order to meet the telecom industry and server industry specifications. Initiatives undertaken by the government under the Digital India project along with the continuous investment made by telecom operators are accelerating network deployment in India. Cloud infrastructure and telecom equipment providers are forming partnerships with domestic PCB suppliers. For example, in April 2026, Pi Data Centers partnered with JLL to accelerate Mumbai expansion, strengthening AI-ready, hyperscale data center infrastructure across India.
The EMR’s report titled “India Printed Circuit Board (PCB) Market Report and Forecast 2026-2035” offers a detailed analysis of the market based on the following segments:
Market Breakup by Manufacturing Type
Key Insight: The dominance of bare boards continues to persist in the India printed circuit board (PCB) market owing to the ability of the bare boards to support various electronics manufacturing operations in the market. Populated boards are gaining popularity with the growing preference of manufacturers for assembly integrated processes, which makes the manufacturing process easier. Bare boards and populated boards are equally important for the electronics localization program of India. The former supports Indian capabilities for fabrication while the latter increases the value addition manufacturing capabilities. In May 2026, Electroninks announced CircuitJet IV commercial launch, enabling faster standalone PCB prototyping through additive manufacturing technology.
Market Breakup by Product Type
Key Insight: As per the India printed circuit board (PCB) market report, the rigid PCBs that consist of one or two layers continue to have relevance when making low-complexity electronic devices where cost-effective production is necessary. Multilayer standard PCBs have widespread application due to their versatile usage in industrial and commercial electronics where increased circuit density is required. Flexible PCBs are gaining wider adoption as they enable lightweight electronic designs and greater product design flexibility. The HDI, micro via, and build-up technologies are experiencing fast growth due to the need for miniaturization in complex electronic devices.
Market Breakup by Number of Layers
Key Insight: Single-side PCBs are useful in basic electronics as they help maintain cost-effective design and manufacturing processes. Double-side PCBs are growing consistently due to their ability to enhance design flexibility without increasing production costs, stimulating growth in the India printed circuit board (PCB) market. Multi-layered PCBs prevail in the industry since they cater to complex electronic systems that need increased component integration, better signal performance, and smaller sizes. In April 2023, T-Works partnered with Qualcomm to establish India's multilayer PCB fabrication facility, accelerating electronics prototyping innovation. The combination of all these layer types helps manufacturers in making scalable electronics products starting from basic home appliance electronics to more complex ones such as industrial automation, communication systems, healthcare, automobiles, and computer technology.
Market Breakup by Type
Key Insight: Rigid PCBs continue to be irreplaceable in electronics mass production due to their reliable strength, easy assembly, and stable operation, boosting India printed circuit board (PCB) market growth opportunities. The development of flexible PCBs is growing fast since they allow making compact devices, lightweight structures, and flexible installation of advanced electronics. Rigid PCBs are used in mass production of traditional industries, while flexible ones help innovate in areas where there is a need for optimized space and better mechanical performance.
Market Breakup by Laminate Type
Key Insight: The use of FR-4 is widespread due to its ability to meet the needs of commercial electronics production in a reliable manner. Polyamide is experiencing tremendous growth in the India printed circuit board (PCB) market revenue since flexible electronics gain importance within advanced sectors. CEM-1 is widely used in electronic manufacturing due to its cost-effectiveness while providing reliable performance for standard applications. Paper-based laminates are applicable for electrical products where low costs are desired.
Market Breakup by Application
Key Insight: Consumer electronics capture the largest share in the India printed circuit board (PCB) market by means of mass production and quick replacement of products. The communication equipment sector needs boards that can provide high-speed connectivity and reliable networks. The industrial electronics segment is focused on reliability and preciseness, whereas the computing equipment sector is highly dependent on circuitry integration. The military and aerospace sectors require boards which perform reliably under challenging environmental conditions.
Market Breakup by States
Key Insight: Regional dynamics in the India printed circuit board (PCB) market demonstrate varied market maturity. The state of Maharashtra is favored by its diversified economy with an established electronics industry that generates demand for different types of PCBs. The state of Tamil Nadu is favored by the integrated manufacturing cluster, export focus, and presence of the OEM segment. The state of Karnataka benefits from its tech-friendly environment and electronics design capabilities that drive demand for sophisticated PCBs. Gujarat is emerging fast with rising investment in semiconductors and electronics that are boosting the region’s manufacturing capability.
By manufacturing type, bare PCBs dominate the market due to expanding domestic electronics component manufacturing
Unpopulated PCBs make up the largest share in the India printed circuit board (PCB) market owing to their role as the platform on which most electronic products are manufactured. These PCBs find applications in consumer electronics, industrial machinery, telecommunication network components, and automotive electronics. Indian companies are expanding their capacities for unpopulated board manufacturing to decrease reliance on imports and provide EMS and OEM companies with specialized designs. In addition, the growing number of localization projects, need for fast prototyping, and investment in multi-layer board manufacturing technologies are boosting this segment’s growth. For example, in June 2025, Kaynes Technology launched bare PCBs, strengthening India's advanced electronics manufacturing and domestic supply chain capabilities.

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The highest rate of growth in the India printed circuit board (PCB) market is registered by populated PCBs, since electronics companies are increasingly outsourcing complete PCB assembly rather than bare board manufacturing. Local EMS vendors are developing capacities in SMT manufacturing, automatic testing systems, and component placing. The growing production of telecommunication components, electric cars, industrial control systems, and medical devices drives the demand for populated PCBs. Companies are trying to cut production time and improve quality assurance to secure multinational OEM manufacturers' contracts.
By product type, the standard multilayer category leads the market owing to widespread industrial electronics integration
The standard multilayer PCBs tend to be dominant in the India printed circuit board (PCB) market since they offer higher circuit density, better electrical performance, and smaller size requirements of modern electronic products. Such printed circuit boards are widely used in telecommunication networks, industrial control systems, computer hardware, and automotive electronic products. The producers are investing in increasing the production capabilities of multilayer PCBs while achieving improvements in drilling accuracy, layer registration, and quality testing. Being the best trade-off between their manufacturing price and capabilities, such PCBs are the most popular choice for medium-to-highly complex electronic devices manufactured in Indian electronic products market. In June 2026, LionCircuits announced a INR 441 crore PCB mega campus, expanding India's advanced manufacturing capacity and domestic supply resilience.

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HDI, microvia, and build-up printed circuit boards constitute the fastest-growing segment due to the higher need for miniaturized and highly performing electronic devices used in AI servers, smartphones, advanced driver assistance systems, wearable devices, and high-speed network hardware. Producers are spending heavily on laser drilling, sequential lamination, and high precision imaging to manufacture such highly sophisticated PCBs, accelerating the India printed circuit board (PCB) market penetration. The increasing need for small-size electronic architecture with better signal integrity and lower weight is driving such investments.
The multi-layer category accounts for the largest share of the market through advanced electronics manufacturing requirements
The demand for multi-layer printed circuit boards is growing due to increasing requirements for high-density components, better performance, and advanced circuitry from modern electronic systems. Industries such as networks equipment, automotive electronics, industry automation, medical equipment, and computer hardware, use mostly multi-layer PCB technology, accelerating demand in the India printed circuit board (PCB) market. Manufacturers are consistently improving their ability to create multi-layer boards through the use of precise technology, efficient testing, and quality control mechanisms. In March 2026, JSW launched advanced injection molding technology, enhancing precision manufacturing capabilities for high-performance PCB production applications.

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Double-sided PCBs are growing at an accelerated pace in terms of sales as companies are looking for affordable options providing better functionality than single-sided boards without the complications associated with multi-layer circuit boards. The industries that use double-sided PCBs include industrial equipment, power electronics, automotive subassemblies, consumer appliances, and others. Firms in the India printed circuit board (PCB) market improve drilling accuracy, copper plating process, and increase automation in order to respond to rising demands.
Rigid PCBs dominate the Indian industry through extensive adoption across mainstream electronic manufacturing applications
The dominance of rigid printed circuit boards is led by their rigidity, stability, uniformity, and cost-effective manufacturing of different electronic products. Consumers continue to use the rigid PCB as it allows them to create durable and reliable electronic products that can be produced via automated processes. Manufacturers strive to increase the precision and quality of their products and add multiple layers to accommodate the growing demands of the market and enable the large-scale production of electronics products both domestically and exports.

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Flexible printed circuit board continue to largely contribute to the India printed circuit board (PCB) market revenue. This category’s growth is attributed to the development of smaller, lightweight, and thin electronic devices whose production requires flexible boards. The use of flexible printed circuit boards is becoming popular for wearables, medical electronics, cameras, electric cars, and other advanced communication gadgets. In July 2025, OKI launched next-generation PCB inspection technology, improving manufacturing accuracy, production efficiency, and electronics quality assurance. Local manufacturers make significant investments into developing special processes for the fabrication of flexible PCBs and into high-performance flexible substrates and precise assembly processes.
By laminate type, the FR-4 segment accounts for the largest share of the market due to superior reliability, versatility, and manufacturing compatibility
FR-4 remains the dominant laminate type in the India printed circuit board (PCB) market as it provides an excellent combination of mechanical strength, electrical insulation, moisture resistance, and cost efficiency. Manufacturers widely use FR-4 in consumer electronics, industrial electronics, communication electronics, automotive electronics, and computers. The suitability of the material in making multi-layered printed circuit boards, using automated assembly processes, and producing in bulk is making the FR-4 segment the most popular material used in the electronics industry in India. Product standardization is continuously enhancing the dominance of FR-4 in mainstream applications for printed circuit boards. In July 2025, Wipro Infrastructure Engineering launched Wipro Electronic Materials, investing INR 500 crore in domestic PCB material manufacturing.

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Polyamide laminates are witnessing the fastest rate of growth in the India printed circuit board (PCB) market owing to the rising demand for flexible printed circuit boards that can operate at high temperatures and also be bent repeatedly. Flexible PCBs that have applications in automotive electronics, aerospace, wearables, and advanced medical devices increasingly require polyamide substrates. Flexible PCB manufacturers are scaling up their capacity and are working on developing techniques of processing materials in the most efficient way possible.
By application, consumer electronics dominate the market owing to sustained domestic device manufacturing expansion
Consumer electronics emerges to be the largest application segment, owing to the fact that smartphones, TVs, appliances, wearables, and smart home solutions require large numbers of PCBs. The India printed circuit board (PCB) market observes increased localized electronics manufacturing along with the introduction of advanced products incorporating a greater number of PCBs. PCB providers are scaling up their manufacturing capacity in order to meet the demand for shorter product development cycles, customized boards, and accurate manufacturing. Ongoing innovations in consumer technology drive the need for different types of PCBs in India’s electronics manufacturing industry. In September 2025, Syrma SGS announced India's largest PCB manufacturing facility, strengthening domestic electronics production and export competitiveness.

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The automotive segment is the most rapidly growing application area, as automobiles incorporate advanced electronics related to electrification, connectivity, safety, and intelligent driving. Applications such as battery management systems, infotainment systems, power electronics, sensors, and driver assistance systems are driving demand for increasingly advanced PCBs. Suppliers of automotive components are also focusing on their collaboration with indigenous PCB manufacturers in order to meet their demands.
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Tamil Nadu dominates the market through integrated electronics manufacturing ecosystem and export capabilities
Tamil Nadu is the dominant player in the India printed circuit board (PCB) market since it has one of the country’s most developed electronics manufacturing ecosystems that includes the presence of prominent OEMs, EMS firms, component makers, and export-oriented industrial infrastructure. Good logistical connectivity, competent technical labor force, developed industrial parks, and state-level policies are driving continuous investments in PCB manufacturing. Diversified production of electronic products in consumer devices, automotive components, and industrial machinery ensure continued demand for local PCBs and improve vendor relationships. In September 2025, Ascent Circuits invested INR 1100 crore to establish advanced PCB manufacturing, strengthening India's electronics supply chain and exports.

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Gujarat is becoming the fastest growing regional market due to significant investment in semiconductor manufacturing, electronics manufacturing, industrial infrastructure, and advanced manufacturing facilities. Manufacturers in the India printed circuit board (PCB) market are increasingly looking at Gujarat for expanding their operations owing to its favorable industrial policies and improved logistics in proximity to manufacturing clusters. Significant investments are being made in automotive electronics, industrial electronics, renewable energy equipment, and semiconductor industries that provide opportunities to PCB manufacturers and assembler companies.
The industry is becoming more competitive with India printed circuit board (PCB) companies making heavy investments in state-of-the-art fabrication technologies, automation, and localized supply chains to tap into the growing electronics manufacturing environment in the country. Companies are increasingly focusing on multilayer PCBs, HDI technologies, flexible circuit boards, and PCB assembly services to secure contracts from automotive, telecommunications, medical devices, and industrial automation manufacturers.
Leading India printed circuit board (PCB) market players are also using technologies such as laser direct imaging, automated optical inspection and smart manufacturing technologies in their manufacturing operations to boost yields and comply with international quality standards. There is also a huge emphasis on export expansion and especially into Europe and North America regions, where customers want to diversify their supply sources. Collaborations with EMS firms, rapid prototyping services, and manufacture of highly reliable PCBs for defense and aerospace industries are opening up additional revenue generation opportunities for PCB manufacturers.
Since its incorporation in 1994, Epitome Components Ltd., based in India, produces printed circuit boards for industrial electronics, telecommunication, automotive, and defense industries. It gives priority to fast turnaround of printed circuit boards, multi-layer boards manufacturing, and engineering services, while constantly improving its quality management systems and state-of-the-art manufacturing technology to serve the needs of domestic and export-oriented electronics manufacturing.
Shogini Technoarts Pvt. Ltd. was founded in 2019 and is headquartered in Pune, Maharashtra, India. The company specializes in producing rigid, multilayer, and metal core printed circuit boards used in automotive, industrial, LED lighting, and power electronics applications, supporting growth in the India printed circuit board (PCB) market.
Founded in 1989, India Circuit Ltd. is located at Haryana, India. India Circuit Ltd. fabricates printed circuit boards (PCBs), assembles PCBs, and offers electronic manufacturing services to consumer electronics, industrial machinery, medical instruments, and communication industries. This company gains competitive advantage by offering customized manufacturing, engineering assistance, production planning, and delivery services to various electronic applications.
Founded in 1978, Hi-Q Electronics Pvt. Ltd. operates from Tamil Nadu, India. This company offers single-sided, double-sided, and multi-layered printed circuit boards for industrial automation, defense, aerospace, instrumentation, and communications industries. The company is further improving manufacturing accuracy by using state-of-the-art manufacturing equipment, quality-conscious production methods, and engineering services to customers' electronic products.
Other key players in the market include Genus Electrotech Ltd., Ascent Circuits Pvt. Ltd., Fine-Line Circuits Limited, and S.B Electronics, among others.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Unlock the latest insights with our India printed circuit board (PCB) market trends 2026 report. Discover regional growth patterns, consumer preferences, and key industry players. Stay ahead of competition with trusted data and expert analysis. Download your free sample report today and drive informed decisions in the market.
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
In 2025, the India printed circuit board (PCB) market reached an approximate value of USD 5.35 Billion.
The market is projected to grow at a CAGR of 18.10% between 2026 and 2035.
The market is expected to reach USD 28.24 Billion in 2035.
Key strategies driving the market include investing in advanced HDI, flexible, and multi-layer PCB technologies, forming joint ventures and strategic partnerships, and aligning with government initiatives to reduce import dependence and support Make in India and high-tech electronics growth.
The printed circuit board (PCB) market is categorised according to its product type, which includes rigid 1–2-sided, standard multilayer, flexible circuits, HDI/microvia/build-up, rigid-flex and others.
The key players in the market include Epitome Components Ltd., Shogini Technoarts Pvt. Ltd., India Circuit Ltd, Hi-Q Electronics Pvt. Ltd, Genus Electrotech Ltd, Ascent Circuits Pvt Ltd, Fine-Line Circuits Limited, and S.B Electronics, among others.
Based on type, it is divided into rigid PCBs and flexible PCBs.
The major market areas include Maharashtra, Tamil Nadu, Karnataka, Gujarat, and Others.
Based on the application, the printed circuit board (PCB) market is divided into consumer electronics, communication, industrial electronics, computers, military and aerospace, automotive and medical instrumentation.
The key challenges are high dependence on imported raw materials, intense competition from low-cost international suppliers, rising production costs, rapid technological changes requiring continuous innovation, and infrastructure and skilled labor gaps in emerging PCB manufacturing regions.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Manufacturing Type |
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| Breakup by Product Type |
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| Breakup by Number of Layers |
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| Breakup by Type |
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| Breakup by Laminate Type |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
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