PLI Boost: Smartphones Surge to 2nd in Exports, Reports Ashwini Vaishnaw
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Synopsis
Union Minister Ashwini Vaishnaw has reported that smartphones have risen to the second rank in India's exports, a significant improvement from the 14th position four years ago, thanks to the production-linked incentive scheme bolstering domestic electronics production.
Key Takeaways
- Smartphones now rank 2nd in India's exports.
- Improvement from 14th position in four years.
- Boosted by PLI scheme focused on electronics production.
- Electronics exports are growing rapidly.
- Government support is enhancing global competitiveness.
New Delhi, Jan 23 (NationPress) Union Minister for Railways and Electronics and IT, Ashwini Vaishnaw, announced on Thursday that smartphones have ascended to second place in India's exports, a remarkable leap from the 14th position just four years ago.
This surge in smartphone exports can be attributed to the production-linked incentive (PLI) scheme, which aims to bolster domestic production of electronic goods.
In a post on social media platform X, Vaishnaw stated: "Another significant milestone for PLI. Smartphones have now become India's 2nd ranked exports, climbing from the 14th to 2nd position within four years.”
The minister also highlighted that the PLI initiative has enhanced global competitiveness, fostered skilling, and created numerous job opportunities.
“The ecosystem is evolving swiftly. The sector is poised for competition against the best globally,” the minister remarked.
Currently, the top five exports for India include automotive diesel fuel, smartphones, aviation fuel, diamonds, and motor gasoline.
In the meantime, the Centre allocated nearly Rs 1,600 crore under the PLI scheme in the first half of 2024-25, with the large-scale electronics manufacturing sector receiving the largest share of Rs 964 crore.
The electronics sector has emerged as the fastest-growing segment in India’s export portfolio, thanks to new manufacturing capabilities established in the country as a result of the PLI scheme's success.
Electronics exports soared by 35.1 percent, reaching a two-year high of $3.58 billion in December 2024, up from $2.65 billion in the same month the prior year.
Within the electronics domain, smartphone exports have experienced a 45 percent increase as major players like Apple and Samsung expand their manufacturing operations in India.
The PLI scheme, combined with prompt governmental approvals, is proving to be a significant success as global corporations seek alternatives to China for establishing supply chains.
Electronics exports are anticipated to grow even further as semiconductor manufacturing facilities are now being developed in the country.
