Domestic electronics manufacturing has witnessed a remarkable increase in the past decade, growing by over 400 per cent to reach a staggering Rs 8.22 lakh crore in FY 2022-23.
As informed by Minister of State for Electronics and IT Rajeev Chandrasekhar in the Lok Sabha, India’s domestic mobile phone manufacturing has achieved a milestone, with 99.2 per cent of handsets used in the country now being produced locally.
“In FY 2013-14 the electronics manufacturing was Rs 1,80,454 crore ($29.8 billion) and has grown significantly to Rs 8,22,350 crore ($102 billion)in FY 2022-23, which is further expected to grow up to Rs 23,95,195 crore ($ 300 billion) by 2026,” the minister said.
He also highlighted India’s impressive growth in mobile phone exports, reaching a staggering $11.1 billion in FY 2022-23.
“We have become a mobile exporting country with $11.1 billion exports in FY 2022-23 as compared to a mobile importing country in 2014-15 when almost 74 per cent of all mobile phones sold in India were imported,” Chandrasekhar said.
