PLI Drives Electronics Exports from 5th to 3rd Position in One Fiscal Year: Minister
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Synopsis
Union Minister Ashwini Vaishnaw announced that India's electronics exports have surged from the fifth to the third position within a single fiscal year, driven by the production-linked incentive (PLI) scheme, resulting in record highs and significant job creation.
Key Takeaways
- Electronics exports increased from 5th to 3rd position.
- Exports reached Rs 3.27 lakh crore in FY25.
- Mobile exports contributed Rs 2 lakh crore.
- 25 lakh new jobs have been created in the sector.
- Smartphones are now India's largest export category.
New Delhi, April 22 (NationPress) The export of electronics from India has ascended from the fifth position to the third within a single fiscal year, thanks to the groundbreaking production-linked incentive (PLI) scheme, reported Union Minister Ashwini Vaishnaw on Tuesday.
On the social media platform X, the minister announced that electronics exports reached an unprecedented Rs 3.27 lakh crore in FY25, with mobile exports contributing Rs 2 lakh crore.
“Electronics exports have risen from the fifth position to the third within just one fiscal year. For three consecutive years, electronics have been India’s fastest-growing export among the top 10 categories,” Vaishnaw stated.
He added that millions of new jobs have been generated in the electronics sector, particularly benefiting women, alongside efforts in “skilling, enhancing DVA, and integrating Indian MSMEs into global supply chains.”
The electronics manufacturing industry has experienced a remarkable fivefold growth in the past decade, exceeding Rs 11 lakh crore, while the entire ecosystem has created 25 lakh jobs.
Over the last ten years, electronics exports have grown sixfold, surpassing Rs 3.25 lakh crore.
In a landmark achievement, smartphones have become India’s largest export category in the initial ten months of FY25, showcasing significant progress under the government’s PLI scheme. In FY14, smartphones were ranked as the 167th export category, a stark contrast to their current leading position.
The Union Minister also commended hardware brands now targeting India, as China faces challenges amid the ongoing trade tariff conflict with the US.
The PLI 2.0 program for IT Hardware has led to over Rs 10,000 crore in production and 3,900 jobs within just 18 months of its introduction, as reported by the government in January this year. Furthermore, the production of laptops has commenced in India, marking a significant milestone for the nation’s electronics manufacturing sector.
Additionally, the electronics manufacturing industry has received a substantial boost with the government announcing the eagerly awaited Electronics Component Manufacturing Scheme (ECMS).
This scheme is pivotal for fortifying India’s component manufacturing ecosystem and enhancing domestic value addition.
With a financial allocation of Rs 22,919 crore over six years, ECMS aims to generate production worth Rs 4.56 lakh crore, attract investments totaling Rs 59,350 crore, and create nearly 91,600 direct jobs.
