India’s electronics manufacturing industry is experiencing tremendous growth, with 330 million mobile phones produced annually. This sector has seen rapid expansion, growing from Rs 1.9 lakh crore in 2014-15 to Rs 9.52 lakh crore in 2023-24, marking an impressive annual growth rate of 17.4%. The industry also witnessed an export growth rate of 22.7%, positioning it as one of the most dynamic sectors in India’s economy.
On the 10th anniversary of the ‘Make in India’ initiative, S. Krishnan, Secretary of the IT Ministry, highlighted the transformation in mobile phone production. In 2014-15, only 26% of mobile phones sold in India were made domestically. Today, 99.2% of all mobile phones sold in India are manufactured within the country.
“We are now producing between 325 to 330 million mobile phones annually, with around a billion mobile phones in use across the country,” Krishnan shared, explaining that this domestic success has led to a significant rise in exports.
India’s mobile phone exports have surged, reaching Rs 1.2 lakh crore in 2023-24, a 77-fold increase from Rs 1,566 crore in 2014-15. Krishnan attributed this rise to the Production Linked Incentive (PLI) scheme, which has exceeded its targets, boosting production to Rs 6.61 lakh crore and attracting Rs 9,100 crore in investments.
The electronics sector now employs 1.2 million people nationwide. With the launch of the India Semiconductor Mission and five major semiconductor projects, including Micron and Tata Electronics, India is set to establish a solid base for semiconductor manufacturing. These developments underscore the Make in India initiative’s success in transforming the country’s electronics sector.
