India is set to reach $300 billion in electronics production by 2026, driven by the success of the ‘Make in India’ initiative and the Production-Linked Incentive (PLI) scheme.
The Centre highlighted these advancements in a statement released on Wednesday. It showcases significant strides in the country’s mobile manufacturing and semiconductor industries.
India, now the second-largest mobile phone producer in the world, has seen dramatic growth in its mobile manufacturing sector.
In 2014-15, only 26% of mobile phones sold in India were locally manufactured. However, this figure has now skyrocketed to 99.2% by December 2024, reflecting significant progress.
The number of mobile phone manufacturing units in India has grown exponentially, from just two units in 2014 to over 300 today.
This growth has been accompanied by a significant rise in mobile phone exports.
Exports surged from Rs 1,566 crore in 2014-15 to a staggering Rs 1.2 lakh crore in 2023-24, marking a 77-fold increase over the past decade.
In addition, India’s semiconductor ecosystem is expanding rapidly.
The country has approved five landmark semiconductor projects with a combined investment nearing Rs 1.52 lakh crore.
These projects will play a crucial role in driving the nation’s electronics manufacturing capabilities and positioning India as a global leader in the sector.
The value of mobile phone manufacturing in India has surged dramatically.
In FY14, the manufacturing value of mobile phones stood at Rs 18,900 crore. By FY24, this figure had ballooned to Rs 4,22,000 crore.
Currently, India manufactures over 325 to 330 million mobile phones annually. As a result, this has led to more than a billion mobile phones being in use across the country.
The Indian government’s initiatives have been pivotal in fostering growth within the electronics sector.
The Ministry of Electronics and Information Technology (MeitY) credited the country’s strong policies and skilled workforce for its sustained growth.
These efforts have played a key role in positioning India as a critical player in the global electronics and semiconductor industries.
In a bid to accelerate industrial growth, the Indian government has increased its budget allocation for key sectors under the PLI scheme.
The budget for electronics manufacturing has risen from Rs 5,747 crore in FY24 to Rs 8,885 crore in FY25 -26.
This substantial increase demonstrates the government’s commitment to strengthening India’s domestic manufacturing capabilities.
India is set to exceed Rs 3 lakh crore in electronics exports for the first time this fiscal year (FY25).
Electronics exports reached Rs 2.87 lakh crore in FY25 (April- Feb), marking a 35% increase from Rs 2.11 lakh crore in FY24.
Smartphones remain the top contributor to this growth.
Smartphone exports jumped 54% in FY25, reaching Rs 1.75 lakh crore. This underscores the key role of mobile production in India’s exports.
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