New Delhi, Oct 18 (NationPress) The rapid increase in demand has resulted in a remarkable double-digit growth in India's electronics manufacturing sector, creating jobs for more than 25 lakh individuals nationwide, as stated by Railways and Electronics and IT Minister, Ashwini Vaishnaw, on Saturday.

India has outperformed its neighboring nations in smartphone exports to the United States, which is one of the largest consumer markets globally, Vaishnaw mentioned during an event.

“A significant global corporation now produces 20 percent of its total output in India, indicating the country's rise as a favored global manufacturing hub. As demand escalates, investments surge, thereby further intensifying demand — establishing a virtuous cycle of economic growth,” he elaborated.

Vaishnaw highlighted that GST reforms have introduced structural stability to the economy, particularly aiding middle-class families by easing food inflation.

For the past four months, food prices have exhibited a deflationary trend of approximately 2 percent, which has helped sustain household purchasing power and support ongoing consumer demand.

In a key advancement for India’s technology ecosystem, Vaishnaw announced that production has begun at two semiconductor manufacturing plants — CG Semi and Kaynes — marking a pivotal moment in India's path towards semiconductor self-sufficiency.

“With these facilities operational, India has embarked on a new chapter in its semiconductor landscape, in alignment with the Prime Minister’s vision of a technologically empowered and self-sufficient Bharat,” he remarked.

Discussing macroeconomic indicators, Vaishnaw stated that from India’s Rs 335 lakh crore GDP last year, Rs 202 lakh crore originated from consumption and Rs 98 lakh crore from investment.

This year’s Navratri season witnessed extraordinary sales in the electronics sector, achieving a 20–25 percent increase compared to the previous year.

“All major retail chains have reported unparalleled demand across various product categories — from televisions and washing machines to smartphones and air conditioners. Notably, 85-inch televisions were entirely sold out, and numerous families opted to upgrade their appliances to newer models, showcasing rising consumer confidence and purchasing power,” he stated.