New Delhi, April 11 -- India is strengthening its position as a global manufacturing hub, with value addition in electronics manufacturing having increased from 30 per cent to around 70 per cent, and is projected to reach 90 per cent by FY27, according to Axis Capital report.

With a new components policy in place, the country is aiming to increase value addition from the current 15-16 per cent to 40-50 per cent. Mobile phone exports have grown 77 times in the last 10 years.

India has cut down its imports of fully built air conditioners (CBUs) from 35 per cent in FY19 to just 5 per cent in FY25. Key parts like compressors, copper tubes, and aluminum coils are now being made in India.

In FY24, about 8.5 million RAC compressors were impor...