New Delhi— India’s electronics manufacturing sector has witnessed an explosive six-fold growth over the past decade, with the government now targeting a $500 billion domestic electronics ecosystem by 2030–31, according to an official statement released Saturday.
The sector’s production output surged from ₹1.9 lakh crore in 2014–15 to ₹11.3 lakh crore in 2024–25, while exports skyrocketed eightfold, from ₹38,000 crore to ₹3.27 lakh crore. Alongside this, the industry generated an estimated 25 lakh jobs, firmly establishing itself as a key pillar of India’s employment and economic growth landscape.
Strategic Push Fuels Growth
The government attributed this rapid expansion to a combination of policy interventions, global investor interest, and a robust skilled workforce. Programs such as ‘Make in India’, ‘Atmanirbhar Bharat’, and the Production Linked Incentive (PLI) scheme have played a pivotal role in boosting domestic manufacturing, increasing exports, and attracting over $4 billion in foreign direct investment (FDI) since FY2020–21.
“Strategic government initiatives and strong policy support have further boosted local manufacturing, expanded exports, and attracted significant global investment,” the release said.
The United States, United Arab Emirates, Netherlands, United Kingdom, and Italy emerged as the top five export destinations for Indian electronics in FY2024–25.
Mobile Manufacturing: India’s Success Story
A standout success has been India’s mobile phone manufacturing industry, which grew 28 times over the past decade—from ₹18,000 crore in 2014–15 to ₹5.45 lakh crore in 2024–25. India is now the world’s second-largest mobile phone manufacturer, with the number of manufacturing units increasing from just 2 in 2014 to over 300 today.
Exports have soared 127 times to reach ₹2 lakh crore, led largely by global tech giant Apple, which alone contributed ₹1.1 lakh crore in device shipments in 2024.
In a milestone achievement, India overtook China in Q2 of FY2025–26 to become the largest exporter of smartphones to the United States, marking a significant geopolitical and economic shift in global supply chains.
Looking Ahead: $500 Billion by 2030
With strong momentum and favorable policy tailwinds, India now aims to scale its electronics manufacturing ecosystem to $500 billion by 2030–31. This vision includes continued expansion of component manufacturing, deeper integration into global value chains, and greater emphasis on design-led innovation.
Industry experts say that with rising global demand, increasing geopolitical diversification, and domestic reforms, India is well-positioned to emerge as a global electronics manufacturing hub, rivaling East Asian economies. (Source: IANS)
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