December 7, 2023
99.2% of mobile handsets used in India are now being domestically manufactured
In FY14, India’s electronics manufacturing stood at US$ 29.8 billion
The country exported mobile phones worth US$ 11.1 billion in the financial year 2022-23
Around 2.5 million direct and indirect jobs have been generated in the electronics sector
In the past decade, domestic electronics manufacturing in India has surged more than fourfold, reaching INR 8.22 trillion, according to Rajeev Chandrasekhar, Minister of State for Electronics and IT.
The country has achieved a significant milestone, with 99.2% of mobile handsets used in India now being domestically manufactured. This marks a remarkable shift from the previous status of being an importer in this sector to becoming an exporter.
Chandrasekhar provided fiscal data, stating that electronics manufacturing, which was INR 1,80,454 crore (US$ 29.8 billion) in FY 2013-14, has experienced substantial growth, reaching INR 8,22,350 crore (US$ 102 billion) in FY 2022-23. He anticipates further expansion, projecting the figure to reach INR 23,95,195 crore (US$ 300 billion) by 2026.
Highlighting the transformation in India’s mobile phone industry, the minister noted that the country exported mobile phones worth US$ 11.1 billion in the financial year 2022-23. India has transitioned from being a mobile-importing nation in 2014-15, when approximately 74% of all mobile phones sold in the country were imported, to becoming a mobile-exporting country.
Chandrasekhar also emphasised the positive impact on employment, stating that around 2.5 million direct and indirect jobs have been generated in the electronics sector. Industry estimates suggest that this figure is expected to rise significantly to 10 million (1 crore) jobs by 2025-26.
Source: Economic Times