Bharat Express

PLI scheme

The Union Cabinet approved a ₹22,919 crore scheme to boost electronics component manufacturing and promote self-reliance in the sector.

India’s electronics exports have seen a significant rise, largely driven by the government’s PLI scheme, according to IESA Chief.

The country's electronics exports are on track to exceed ₹3 lakh crore for the first time in the current fiscal year (FY25).

India now holds a 4% share in global textile and apparel exports, cementing its position among top exporters, the government told Parliament.

The government disbursed Rs 14,020 crore under the PLI scheme, boosting manufacturing and driving Rs 14 lakh crore in sales.

India’s smartphone exports have soared by 54%, crossing Rs 1.75 lakh crore ($21 billion) in the first 11 months of FY2024-25.

India is expected to capture 8-10% of the global semiconductor market by 2030, a move that could generate up to $40 billion in revenue.

The PLI scheme has significantly boosted FDI in India’s manufacturing sector, with equity inflows rising by 69% from 2014 to 2024.

India’s smartphone exports soared by 140% in January 2024, reaching ₹25,000 crore ($3 billion). The surge was led by Apple’s supply chain, which contributed nearly 70% of total exports, followed by Samsung at 20%.

India’s mobile phone exports are set to exceed Rs 1.8 lakh crore in FY25, marking nearly 40% growth over the previous year.