温馨提示：本站仅提供公开网络链接索引服务，不存储、不篡改任何第三方内容，所有内容版权归原作者所有
AI智能索引来源：http://www.ms.com/ideas/india-electronics-tech-manufacturing
点击访问原文链接

India Manufacturing Outlook: Electronics & Tech | Morgan Stanley

进入原网站 导航首页
India Manufacturing Outlook: Electronics & Tech | Morgan Stanley Investor Relations Media Relations Client Login Client Login Morgan Stanley Online Morgan Stanley at Work Research Portal Matrix

Morgan Stanley Online

Morgan Stanley at Work

Research Portal

Matrix

Our Insights Our Insights Personal Finance Market Trends Technology & Disruption Sustainability Diversity & Inclusion STAY UP TO DATE Sign Up For Our Newsletter Listen To Our Podcasts

At Morgan Stanley, we lead with exceptional ideas. Across all our businesses, we offer keen insight on today's most critical issues.

Personal Finance

Learn from our industry leaders about how to manage your wealth and help meet your personal financial goals.

At Morgan Stanley, we lead with exceptional ideas. Across all our businesses, we offer keen insight on today's most critical issues.

Market Trends

From volatility and geopolitics to economic trends and investment outlooks, stay informed on the key developments shaping today's markets.

At Morgan Stanley, we lead with exceptional ideas. Across all our businesses, we offer keen insight on today's most critical issues.

Technology & Disruption

Whether it’s hardware, software or age-old businesses, everything today is ripe for disruption. Stay abreast of the latest trends and developments.

At Morgan Stanley, we lead with exceptional ideas. Across all our businesses, we offer keen insight on today's most critical issues.

Sustainability

Our insightful research, advisory and investing capabilities give us unique and broad perspective on sustainability topics.

At Morgan Stanley, we lead with exceptional ideas. Across all our businesses, we offer keen insight on today's most critical issues.

Diversity & Inclusion

Multicultural and women entrepreneurs are the cutting-edge leaders of businesses that power markets. Hear their stories and learn about how they are redefining the terms of success.

Featured 2026 Outlooks Insights Hard Lessons Insights Thoughts on the Market Insights What We Do What We Do Wealth Management Investment Banking & Capital Markets Sales & Trading Research Investment Management Morgan Stanley at Work Sustainable Investing Inclusive & Sustainable Ventures

Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals.

Wealth Management

We help people, businesses and institutions build, preserve and manage wealth so they can pursue their financial goals.

Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals.

Investment Banking & Capital Markets

We have global expertise in market analysis and in advisory and capital-raising services for corporations, institutions and governments.

Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals.

Sales & Trading

Global institutions, leading hedge funds and industry innovators turn to Morgan Stanley for sales, trading and market-making services.

Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals.

Research

We offer timely, integrated analysis of companies, sectors, markets and economies, helping clients with their most critical decisions.

Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals.

Investment Management

We deliver active investment strategies across public and private markets and custom solutions to institutional and individual investors.

Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals.

Morgan Stanley at Work

We provide comprehensive workplace financial solutions for organizations and their employees, combining personalized advice with modern technology.

Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals.

Sustainable Investing

We offer scalable investment products, foster innovative solutions and provide actionable insights across sustainability issues.

Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals.

Inclusive & Sustainable Ventures

From our startup lab to our cutting-edge research, we broaden access to capital for entrepreneurs and spotlight their success.

Featured Get Matched with a Financial Advisor Wealth Management Explore What We Offer E*TRADE from Morgan Stanley Watch Our Client Success Stories The Morgan Stanley Blueprint About Us About Us Core Values Leadership History Locations Diversity Sustainability Giving Back Technology Sponsorships

Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. Underpinning all that we do are five core values.

Core Values

Everything we do at Morgan Stanley is guided by our five core values: Do the right thing, put clients first, lead with exceptional ideas, commit to diversity and inclusion, and give back.

Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. Underpinning all that we do are five core values.

Leadership

Morgan Stanley leadership is dedicated to conducting first-class business in a first-class way. Our board of directors and senior executives hold the belief that capital can and should benefit all of society.

Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. Underpinning all that we do are five core values.

History

From our origins as a small Wall Street partnership to becoming a global firm of more than 80,000 employees today, Morgan Stanley has been committed to clients and communities for 90 years.

Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. Underpinning all that we do are five core values.

Locations

The global presence that Morgan Stanley maintains is key to our clients' success, giving us keen insight across regions and markets, and allowing us to make a difference around the world.

Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. Underpinning all that we do are five core values.

Diversity

Morgan Stanley is differentiated by the caliber of our diverse team. Our culture of access and inclusion has built our legacy and shapes our future, helping to strengthen our business and bring value to clients.

Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. Underpinning all that we do are five core values.

Sustainability

Our firm's commitment to sustainability informs our operations, governance, risk management, diversity efforts, philanthropy and research.

Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. Underpinning all that we do are five core values.

Giving Back

At Morgan Stanley, giving back is a core value—a central part of our culture globally. We live that commitment through long-lasting partnerships, community-based delivery and engaging our best asset—Morgan Stanley employees.

Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. Underpinning all that we do are five core values.

Technology

As a global financial services firm, Morgan Stanley is committed to technological innovation. We rely on our technologists around the world to create leading-edge, secure platforms for all our businesses.

Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. Underpinning all that we do are five core values.

Sponsorships

At Morgan Stanley, we believe creating a more equitable society begins with investing in access, knowledge and resources to foster potential for all. We are committed to supporting the next generation of leaders and ensuring that they reflect the diversity of the world they inherit.

Careers Careers Students & Graduates Opportunities Experienced Professionals Opportunities Technology Professionals Experienced Financial Advisors

We believe our greatest asset is our people. We value our commitment to diverse perspectives and a culture of inclusion across the firm. Discover who we are and the right opportunity for you.

Students & Graduates

A career at Morgan Stanley means belonging to an ideas-driven culture that embraces new perspectives to solve complex problems. See how you can make meaningful contributions as a student or recent graduate at Morgan Stanley.

We believe our greatest asset is our people. We value our commitment to diverse perspectives and a culture of inclusion across the firm. Discover who we are and the right opportunity for you.

Experienced Professionals

At Morgan Stanley, you’ll find trusted colleagues, committed mentors and a culture that values diverse perspectives, individual intellect and cross-collaboration. See how you can continue your career journey at Morgan Stanley.

We believe our greatest asset is our people. We value our commitment to diverse perspectives and a culture of inclusion across the firm. Discover who we are and the right opportunity for you.

Experienced Financial Advisors

At Morgan Stanley, our premier brand, robust resources and market leadership can offer you a new opportunity to grow your practice and continue to fulfill on your commitment to deliver tailored wealth management advice that helps your clients reach their financial goals.

Featured Explore Our Culture Careers Yes, You Can Be a Tech Innovator at Morgan Stanley Technology CLEAR Research A Bright Future for India Tech Manufacturing Oct 27, 2023

India’s role in technology manufacturing is poised for rapid growth as companies reassess supply-chain resilience in light of a rewiring of the global economy.

Key Takeaways India’s electronics manufacturing is poised for rapid expansion as tech companies diversify supply chains and reduce dependence on China. Electronics manufacturing in India could see compound annual growth of 21% a year through 2032, to $604 billion. Demographics and government policy make India an appealing destination for companies looking to realign operations. Technology supply chains are ripe for disruption—and India is positioned to benefit.

 

As a multipolar world order continues to emerge, global commerce is becoming less decentralized and less deeply interconnected. With the U.S. and China focused on their own economic and national security concerns, potentially at the expense of seamless supply chains, business leaders are reassessing supply-chain resilience. This has turbocharged trends toward re-shoring, nearshoring and friend-shoring as companies look to neighbors and allies to source and manufacture critical components.

 

“India shines as a promising alternative in tech supply chains, innovation hubs and joint ventures,” says Ridham Desai, Morgan Stanley’s Chief Equity Strategist for India. “As a country, it most closely resembles China in terms of scale, legal framework, knowledge base and manufacturing tradition.”

 

 

A Strong Link in the Supply Chain Many top brands already have a foothold in India, and several major technology firms—including a leading smartphone maker—recently signaled plans to establish or expand operations there. India’s electronics manufacturing sector could expand by 21% per year to $604 billion by 2032, according to Morgan Stanley Research forecasts. Based on these and other factors, including India’s rising power in the world economic order, Morgan Stanley’s Multinational Corporation Sentiment Index for India, which tracks managers’ attitudes toward business conditions, is near an all-time high.

 

To get a sense of India’s growth potential in tech manufacturing, consider mobile phones. In 2014, India had just two factories making the devices, and didn’t export any. Today, India is the world’s second-largest manufacturer after China. From April 2022 to the end of March 2023, the country’s mobile exports reached a record $11.2 billion, meaning electronics have overtaken ready-made garments as India’s dominant exports. Its largest mobile export markets—the U.S., the U.A.E., the Netherlands, the U.K. and Italy — could be worth $50 billion by 2026, according to the India Cellular & Electronics Association.

 

Now, India is going after other pieces of the electronics supply chain. Already, electronics manufacturing employs about 25 million people and accounts for 3% of gross domestic product. The country’s share of global electronics manufacturing has grown to roughly 3%, up from 1% a decade ago.

 

Labor and Policy Outlook Demographics further enhance India’s appeal as a tech manufacturer. On the demand side, the country’s population is booming, and strong disposable income will help drive an increase in discretionary spending in the next decade. Urbanization is expanding, as is consumer access to electricity, financing and e-commerce. On the supply side, a large and growing working-age population ensures an ample labor supply. Moreover, the United Nations predicts that India’s working-age population will remain higher than the world average through 2038, giving it a demographic edge over other emerging markets.

 

“All of this means electronics manufacturers could see India as the next natural major stop,” says Desai.

 

Government support is also strong. Policymakers have prioritized electronics manufacturing as a pillar of the country’s “Make in India” and “Digital India” programs. In its aim to become a net exporter of electronics, India has already taken steps to entice investment by boosting infrastructure spending, simplifying procedures, implementing new trade agreements, lowering corporate taxes and introducing production-linked incentives.

 

 

Looking Ahead Desai and his colleagues think India is on its way to be “factory to the world”—but there are hurdles. India has yet to build the kind of electronics ecosystems supported by fiscal incentives, better infrastructure and tax breaks for multinationals that have allowed Asian counterparts to gain favor with tech firms. The country’s employment laws remain complex and production costs are higher than regional alternatives due to obstacles including legal complexity, dearth of skilled labor and infrastructure problems—such as unreliable electricity, freight rail snags, and poor road quality—that can lead to costly delays. As India addresses these issues, it will have to work to transform corporations’ perceptions of the country from a destination for low-cost outsourcing to a collaborator in making advanced technologies.

 

While transformation will take time, recent investments by major tech firms could be the signal that other companies have been waiting for. Morgan Stanley estimates that India’s overall electronics production will be worth $190 billion by 2026.

 

“The combination of favorable demographics and increasing disposable income should lead to stronger consumption of electronics over the next decade, while a burgeoning manufacturing footprint and ready supply of labor have the potential to substantially increase exports, especially of mobile phones, from India in the next three to five years,” Desai says.

 

 

For full insights on the factors driving growth in India’s technology manufacturing, ask your Morgan Stanley Representative or Financial Advisor for the full report “Multipolar World: Tech Supply Chains Make India the Next Stop,” (July 3, 2023).

7275232 63766 3CD19151-F46C-4595-84CF-8EEC3E05FD19

Sign up to get Morgan Stanley Ideas delivered to your inbox.

Email Address Email Address (Required) Invalid Email Address Subscribe

Thank You for Subscribing!

Would you like to help us improve our coverage of topics that might interest you? Tell us about yourself.

default-msdotcom-options true Submit Thank You for Taking the Survey! Thank you for taking the survey to help improving our newsletter. We value your feedback. More Insights Research U.S. Housing Recovery Offers Sustainable Opportunity Increased activity in U.S. housing next year should bring opportunity for ESG investors, as the transition to more environmentally friendly home construction and renovation gathers pace. Research AI Brain Implant Shows Breakthrough Potential The development of brain-computer interfaces takes a leap forward, though scale and commercialization remain a distant possibility. Research Globalization Makes Way for a Multipolar World Trade and supply chains are becoming more dispersed as the world transitions to a multipolar economy, setting up a number of regions and industries for growth and opportunity. Research U.S. Housing Recovery Offers Sustainable Opportunity Research AI Brain Implant Shows Breakthrough Potential Research Globalization Makes Way for a Multipolar World Disclosures Investor Relations Corporate Governance Newsroom Careers Contact Us Global Offices Equal Employment Opportunity Cybersecurity Terms of Use Privacy & Cookies Your Privacy Choices

© 2026 Morgan Stanley. All rights reserved.

智能索引记录