NEW DELHI, Jan. 13 -- India's decade-old electronics industry is poised to grow nearly three times faster than its larger IT services sector over the next five years. By 2030, both industries are expected to generate $500 billion each, contributing to a $1 trillion digital economy.

The electronics sector, which ended last year with $125 billion in revenue, is expected to grow at a compounded rate of 32%, according to a senior official at the Ministry of Electronics and Information Technology (Meity). The IT services industry, which recorded $283 billion in revenue, is projected to grow at 12% annually to reach the same milestone.

"I don't think electronics as an industry is larger than IT services, and given that it is newer, it is stil...