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Report Overview
The India printed circuit board (PCB) market was valued at USD 5.35 Billion in 2025. The market is expected to grow at a CAGR of 18.10% during the forecast period of 2026-2035 to reach a value of USD 28.24 Billion by 2035. Rising adoption of smart home electronics and IoT devices is driving PCB demand, creating opportunities for high-density, flexible, and miniaturized boards across consumer, automotive, and industrial sectors.
The industry is gaining significant momentum, propelled by the country’s growing electronics manufacturing ecosystem. One of the primary driving factors is the surge in electric vehicle (EV) adoption and automotive electronics, where high-reliability, multilayer PCBs are being increasingly integrated into battery management and smart vehicle systems. According to the India printed circuit board (PCB) market analysis, in April 2025, the country reported retail EV sales of 167,629 units, marking a 45% year-on-year rise, accelerated by government initiatives like the FAME India Scheme Phase II, which incentivizes EV and component production.
Moreover, India’s 5G and telecom expansion is generating strong demand for high-frequency, high-speed PCBs. By September 2024, Bharti Airtel covered 7,900 towns with 4G and 5G services, while Reliance Jio achieved nationwide 5G rollout, serving 170 million subscribers. This infrastructure boom is creating urgent requirements for precision-engineered solutions in routers, base stations, and telecom equipment, accelerating the India printed circuit board (PCB) market opportunities. The government’s Electronics Component Manufacturing Scheme (ECMS), with a USD 2.7 billion allocation, is further stimulating domestic PCB production, especially multilayer types, while import duty hikes on single- and double-layer boards encourage local sourcing.
2025
Base Year
2019-2025
Historical Period
2026-2035
Forecast Period
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The Semicon India Programme, initiated in 2022 with ₹76,000 crore, by MeitY, aims to enhance India's self-reliance and global presence in ESDM, thereby fueling growth of Indian printed circuit board PCB market.
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The Indian semiconductor industry is forecasted to grow to approximately $110 billion by 2030, as per the International Trade Administration's estimates.
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PCBs are utilised in various sectors such as aerospace, medical devices, industrial machinery, computers, and communication, control, and entertainment systems.
Competitive Landscape
Key India printed circuit board (PCB) market players are investing in high-density interconnect (HDI), multilayer, and flexible PCB technologies to meet the demands of sectors like automotive, telecom, and consumer electronics. Export-oriented growth is gaining momentum, with firms enhancing production efficiency through automation and advanced assembly lines. Government initiatives like the Production Linked Incentive (PLI) scheme and Make in India program are incentivizing local manufacturing, encouraging both foreign and domestic players to scale operations.
Collaboration with global electronics firms is also expanding local capabilities, enabling technology transfer and advanced product development. India printed circuit board (PCB) companies are increasingly emphasizing sustainable materials, quality certifications, and R&D investment to differentiate themselves.
Epitome Components Ltd.
Epitome Components Ltd. established in 1994 and headquartered in Maharashtra, stands as a prominent PCB manufacturer in India, boasting advanced infrastructure and a substantial production capacity of 100,000 sqm/month. With a large and contented customer base both domestically and internationally, Epitome has forged a joint venture with Trackwise Designs Ltd., focusing on producing RF Antenna PCBs vital for cellular networks, radar systems, space industry, and other sophisticated applications.
Shogini Technoarts Pvt. Ltd.
Shogini Technoarts Pvt. Ltd, established in 1982 and headquartered in Maharashtra, offers extensive solutions by producing top-notch printed circuit boards in a variety of types. These include single and double-sided, multilayer, metal-clad, and flex boards, each tailored for diverse applications.
India Circuit Ltd
India Circuit Ltd, established in 2007 and headquartered in Chandigarh, demonstrates its commitment to excellence through a diverse product line. This includes single-side PCB, double-side PCB, metal core PCB, and aluminium PCB, reflecting their expertise and focus on delivering top-tier quality products.
Hi-Q Electronics Pvt. Ltd.
Hi-Q Electronics Pvt. Ltd. established in 1983 and headquartered in Karnataka, stands as a premier manufacturer of intricate PCBs in India. Their clientele spans across Aerospace, Space, and high-tech sectors both domestically and internationally. Specializing in PCBs, Electronics Manufacturing, Defence and Aerospace solutions, Prototypes, Multilayer Boards, HDI, Flex Rigid, as well as Blind Buried technologies, they demonstrate a commitment to excellence in their field.
Indian Printed Circuit Board (PCB) Market Report Snapshots
*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.*
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Key Questions Answered in the Report
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.
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