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78 PCB007 MAGAZINE I AUGUST 2023 From resplendent silks to ornate architec- tural marvels, India is perhaps best known for her rich cultural heritage. Until the late 1980s, it remained a relatively closed economy. But in 1991, former Prime Minister Rao passed a series of radical economic reforms that opened its doors to foreign trade and investment. Since then, India has been steadily developing into a major economic powerhouse on the global landscape. Today it is the world's fih largest econ- omy (behind the U.S., China, Japan, and Ger- many) and Goldman Sachs predicts that by 2075, it will be the world's second largest econ- omy 1 . With the largest workforce population in the world, it is no wonder there have been major incentives by the Indian government to India's Rise in the Global Electronics Ecosystem increase jobs and promote global trade, partic- ularly in the electronics manufacturing sector. India's current contribution to the global elec- tronics market is estimated to be just 3.4% 2 . But slogans like "Atmanirbhar Bharat (Make in India)" and "Digital India" are steadily perco- lating across the nation, supported by federal incentives to bolster and accelerate domestic electronics manufacturing. Earlier this year, President Biden hosted Indian Prime Minister Modi to discuss the bur- geoning technological partnership between the two nations, and strategies to strengthen the commercial alliance between the U.S. and India. Several important agreements spawned from the meeting, including the greenlight for General Electric to start producing jet engines Material Insight by Preeya Kuray, AGC MULTI MATERIAL AMERICA

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