August 30, 2022
The targets will transform India into a Global Value Chain (GVC) for electronics
India’s electronic exports have almost tripled between 2015 and 2022 from US$ 5.8 billion to US$ 16 billion
The single largest portion of India's electronics exports is mobile phones
Mobile phones are expected to make up close to 50% of all electronics exports by 2023
India’s electronics industry is expected to reach a production target of US$ 300 billion and exports worth US$ 120 billion by the next four years, according to a government report.
Rajeev Chandrashekar, the Minister of State for Electronics and Information Technology, Skill Development and Entrepreneurship, said that the targets will transform India into a Global Value Chain (GVC) for electronics.
According to the report, India’s electronic exports have almost tripled between 2015 and 2022 from US$ 5.8 billion to US$ 16 billion, respectively. This year, the electronics industry has increased to rank as India’s sixth-largest export, with mobile phones being the single largest component of India’s electronics exports. By 2023, mobile phones are expected to make up close to 50% of all electronics exports.
Experts said that besides existing policies like Gati Shakti, several newer policies and steps will deepen the broader electronics ecosystem in India.
The report suggested that India should increase the scale of localising electronic goods and create a goal to export at the scale of major global markets.