New Delhi
India’s electronics production has seen a remarkable surge, reaching ₹9.52 lakh crore from just ₹1.9 lakh crore a decade ago, reflecting a compound annual growth rate (CAGR) of 17.4%, according to government data. This growth is driven by the Production-Linked Incentive (PLI) scheme, which has significantly boosted the country’s manufacturing sector.
The total value of electronics production in India now stands at ₹6.61 lakh crore, surpassing the government’s target. Investments under the PLI scheme have also exceeded expectations, totaling ₹9,100 crore.
The mobile PLI scheme aimed for a cumulative production of ₹4.39 lakh crore in 2023-24 and ₹8.12 lakh crore by FY 2026. Notably, mobile exports have seen a dramatic increase, rising 77 times from ₹1,566 crore in 2014-15 to ₹1.2 lakh crore in 2023-24.
The Ministry of Electronics and Information Technology (MeitY) reports that the mobile PLI scheme has generated over 1.22 lakh jobs, exceeding its target. The value of mobile phone manufacturing in India has grown to ₹4.1 lakh crore over the last decade, driven by strategic government policies like the PLI and Phased Manufacturing Programme (PMP).
India is now the world’s second-largest mobile phone manufacturer, with global giants like Samsung, Apple, and Google producing their latest smartphones domestically. S Krishnan, Secretary of MeitY, emphasized that the government’s focus remains on maximizing the benefits of the PLI scheme to enhance India’s business environment.
