India's Mobile Phone Exports Reach New Heights

In a remarkable achievement, India's mobile phone exports have surpassed the Rs 2 lakh crore mark in the fiscal year 2024-25, marking a significant 54% growth compared to the previous year. This surge is largely attributed to the stellar performance of Apple's iPhone, which alone accounted for Rs 1.5 lakh crore of the total exports.

Government's Vision for Electronics Manufacturing

Union minister Ashwini Vaishnaw highlighted the government's ambitious plans to double electronics exports over the next five years. With smartphones now ranking among India's top exported goods, the focus is on expanding the electronics manufacturing ecosystem. A component scheme with an incentive of Rs 22,919 crore has been introduced to encourage more players to join the fray.

Boosting Employment and Value Addition

The new scheme is expected to generate direct employment for around 1 lakh individuals while enhancing the value addition in finished products. The minister revealed that the current value addition stands at about 20%, with plans to double this figure in the coming years.

Expanding the Manufacturing Ecosystem

With over 400 production units already contributing to the manufacturing of various components, the ecosystem for electronics manufacturing in India is growing robustly. The government's support under the Electronic Component Manufacturing Scheme aims to further this growth, covering a wide range of products from consumer electronics to automobiles.