India is going through a major change in the way it builds and uses technology. A recent Jefferies report points to six industries that are helping drive this transformation. These industries include semiconductors, electronics, space, data centers, solar equipment, and aerospace. The growth in these areas is already visible from the stats that the report stated.
In the last few years, the Space industry of India grew fivefold and is predicted to reach USD 40-45 billion by 2030. Similarly, the semiconductor chip industry invested around USD 20 billion in it, with a fresh USD 13 billion incentive plan in the works.
Reportedly, the data center industry witnessed a massive boom. In the last five years, the industry grew fivefold, and Jefferies expects it to reach 10 gigawatts within the next five years.
The growth does not stop there. Solar power is one of the strongest sectors in the Indian economy. India is the second-largest PV manufacturer in the world, with the capacity expected to touch 90 % of the entire solar value chain by 2030.
Dipal Dutta, CEO at RedoQ, put the growth like, “By expanding deep-tech capabilities across semiconductors, space systems, and next-generation data centers, the nation isn't just participating in the global supply chain, it is actively rewiring it.”
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India’s old technology story was mainly about IT services, software and outsourcing. Companies built software for global clients and handled tech work for businesses around the world.
The new model is wider. India is now trying to make more of the technology it uses. Chip plants can help build a local semiconductor industry. Electronics factories can move beyond phone assembly. Data centers can support cloud services and AI. Space and aerospace firms are also moving deeper into global markets.
The bigger change is simple: India is moving from mainly providing technology services to building more of the hardware and systems behind them. If this growth continues, these six sectors could give the country a much larger role in the global technology market.