This report analyzes India's printed circuit board (PCB) trade, which has recently shifted from a deficit to a surplus. It details the performance of three PCB categories (bare, mounted, and populated) and examines the roles of key trading partners like China and Singapore. The document includes trade figures for fiscal years 2024-25 through 2026-27, highlighting the growth in exports and the…
This document is a trade analysis report on India's printed circuit board (PCB) sector, focusing on the recent shift from a trade deficit to a surplus. It is intended for industry analysts, policymakers, and business professionals monitoring India's electronics manufacturing landscape. The report covers data from fiscal years 2024-25 through the first five months of 2026-27, providing a detailed look at import and export figures.
The report begins with an executive summary and introduction, explaining the importance of PCBs in electronics manufacturing and outlining the report's objectives. It then provides a backdrop of India's overall electronics trade, noting that while the sector remains deficit-heavy, PCBs have shown a notable reversal. The core analysis breaks down trade performance by category: bare PCBs, mounted PCBs, and populated PCBs, each with distinct trends.
A significant portion of the document focuses on country-wise trade positions, detailing where India's PCB exports are going and where its imports come from. Key findings include Singapore overtaking China as India's largest PCB export market, driven by demand for AI-server hardware, and China's continued dominance as a supplier of bare PCBs and raw materials. The report also discusses the structural constraints and the next steps for climbing the value chain.