India Building $100 Billion Tech Empire, 6 Sectors Rising: Jefferies

India may be entering a new phase of growth.

A recent report by global investment bank Jefferies says the country is witnessing a "new industrial revolution", driven by manufacturing, technology and infrastructure.

From semiconductor plants and data centres to solar equipment and satellites, India is expanding its industrial base at a rapid pace.

Jefferies says this growth is being powered by India's large consumer market, increasing private investment and government incentives aimed at attracting new industries.

India is not just buying technology anymore. It is increasingly trying to build it, as per the report

1. Space Just Got Serious

India isn't just launching rockets anymore. It's building a space industry. Jefferies says India is now among a small club of nations with real space capabilities. The numbers back this up. The space economy could grow five times over, hitting $40-45 billion by 2030.

Private players are leading the charge. Skyroot. Pixxel. Agnikul. These aren't science projects anymore. They're moving toward actual commercial launches.

2. Chips Are Finally Being Made at Home

For years, India talked about making semiconductors. Now it's actually doing it. Around $20 billion has already been poured into this space. A chip fabrication plant is under construction. Several packaging and testing projects have started production. There's more coming too. A fresh $13 billion incentive plan is in the works. This should deepen the entire chip ecosystem, not just the flashy parts.

3. Data Centres Are Exploding

Five years ago, India's data centre capacity was small. Now it's five times bigger. Two gigawatts and counting. Jefferies expects this to hit 10 gigawatts within the next five years. That's not a small jump. It opens up a $45 billion opportunity across power, cooling, construction, and networking. Every AI boom needs servers somewhere. India wants to be that somewhere.

4. Electronics: From Assembly to Actual Manufacturing

India used to just assemble phones. Screw in parts made elsewhere. That's changing. The country is pushing hard into making the actual components, not just putting them together. Right now, domestic value addition in mobile components sits below 20 per cent. Jefferies expects that number to hit around 50 per cent within six years. That's a massive shift in where the real value gets created.

5. Solar Power Is India's New Export Game

India already makes more solar cells than almost anyone else. It's the world's second-largest solar PV manufacturer. Around 35 gigawatts of cell capacity is already running. Another 100 gigawatts is under construction. By 2030, Jefferies expects 90 per cent of the entire solar value chain to be built inside India.

6. Aerospace Giants Are Quietly Depending on India

Boeing and Airbus don't just fly planes made elsewhere. They're already buying $1.4-1.6 billion worth of parts from India every year. Why? India has the cost advantage. It also has the engineering talent to back it up. As global aerospace supply chains struggle to keep up with demand, Indian firms are stepping in as suppliers to major OEMs and Tier-1 companies worldwide.

What Industry Voices Are Saying

Dipal Dutta, CEO at RedoQ, believes this moment marks a real turning point for the country.

"India is transitioning from a global services hub to an absolute powerhouse of core technology and advanced engineering," said Dutta. "By expanding deep-tech capabilities across semiconductors, space systems, and next-generation data centers, the nation isn't just participating in the global supply chain, it is actively rewiring it."

Dutta added that this shift toward localised, high-value manufacturing is only the beginning. "This shift toward high-value, localised manufacturing and massive infrastructure scaling marks the beginning of an industrial revolution that will redefine sustainable, tech-driven economic growth for the next decade."