Synopsis
India is on the brink of reaching $300 billion in electronics production by 2026, primarily fueled by its robust 'Make in India' initiative and the production-linked incentive scheme. With a significant rise in domestic manufacturing and exports, the country aims to solidify its position in the global electronics market.Key Takeaways
- India is the second-largest mobile phone producer.
- Expected to hit $300 billion in electronics production by 2026.
- Mobile manufacturing units surged from 2 to over 300.
- Electronics exports projected to exceed Rs 3 lakh crore.
- Strong government support through PLI scheme.
New Delhi, March 26 (NationPress) India, the world’s second-largest mobile phone manufacturer, is poised to achieve $300 billion in electronics production by 2026, propelled by the ‘Make in India’ initiative and the production-linked incentive (PLI) scheme, as announced by the Centre on Wednesday.
Back in 2014-15, only 26 percent of mobile phones sold in India were produced domestically, a figure that has skyrocketed to 99.2 percent by December 2024.
India started with merely two mobile manufacturing units in 2014, whereas today it boasts over 300. The exports of mobile phones have witnessed an astonishing surge, jumping from Rs 1,566 crore in 2014-15 to Rs 1.2 lakh crore in 2023-24, a remarkable 77-fold increase.
The country's semiconductor landscape is also thriving, with five major projects receiving approval, amounting to a combined investment of nearly Rs 1.52 lakh crore.
According to a statement from the Ministry of Electronics and IT, “As India approaches its $300 billion target for electronics production by 2026, its strong policies and talented workforce are fostering sustained growth, establishing the country as a significant player in the global electronics and semiconductor sectors.”
The manufacturing value of mobile devices has surged from Rs 18,900 crore in FY14 to a remarkable Rs 4,22,000 crore in FY24. India is currently manufacturing between 325 to 330 million mobile phones annually, while there are approximately one billion mobile phones actively in use across the country.
Consequently, India’s electronics industry is witnessing substantial growth, bolstered by numerous government initiatives aimed at positioning the nation as a global leader, as stated by the ministry.
In a decisive move to foster industrial advancement, the government has amplified budget allocations for critical sectors under the PLI scheme, reaffirming its dedication to enhancing domestic manufacturing.
The funding for electronics has risen from Rs 5,747 crore (revised estimate for 2024-25) to Rs 8,885 crore in 2025-26.
This fiscal year (FY25), the country is anticipated to see electronics exports exceed Rs 3 lakh crore for the first time, largely driven by smartphones. Recent industry data indicates that electronics exports reached Rs 2.87 lakh crore in the first eleven months of FY25 (April-February), showcasing an impressive 35 percent increase from Rs 2.11 lakh crore during the same period last fiscal year (FY24).
Smartphones, valued at Rs 1.75 lakh crore, remain the primary driver of electronics export growth in the April-February timeframe, reflecting a significant 54 percent increase over the same period in FY 2023-24.
