New Delhi, Oct. 4 -- India's electronics system design and manufacturing (ESDM) sector is set for rapid growth.

A report byCareEdge Ratingsprojects the market will grow at a compound annual growth rate (CAGR) of20-25%between FY 2025 and FY 2030, reaching a size ofRs 7-8 lakh crore.

Between FY 2020 and FY 2025, the sector recorded strong momentum with a growth rate of about28% CAGR. This expansion has been supported by rising disposable incomes, increasing smartphone adoption, and a growing demand for smart devices across both urban and smaller towns.

Thesmartphone industryis the largest contributor, making up nearly62%of the overall ESDM market in FY 2025. India has significantly reduced its dependence on imports, with almost99% of sma...