New Delhi, Aug. 24 -- India is looking to sharply increase its electronic component production as the country's total electronics production is targeted to reach USD 500 billion by FY31, according to a report by Kotak Mutual Fund.

The report showed that electronic component production is projected to rise from USD 10.5 billion in FY24 to USD 150 billion by FY31. This represents a more than 14-fold increase over the period.

The expected rise in component production stands out as one of the major changes in India's electronics manufacturing landscape. While mobile phone production is also projected to grow significantly, the increase in electronic components is expected to be much faster.

According to the report, mobile phone production ...