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Union minister Ashwini Vaishnaw announced India is now the top smartphone supplier to the US, with electronics manufacturing valued at Rs 12 lakh crore.
News18
Union minister Ashwini Vaishnaw on Sunday said India has become the leading supplier of smartphones to the United States, with electronics manufacturing in the country now valued at Rs 12 lakh crore, TOI reported.
Speaking at the inauguration of metro projects in Bengaluru, Vaishnaw highlighted that India’s electronic production has grown sixfold in the past 11 years. He added that electronic exports have surged eightfold to Rs 3 lakh crore and reaffirmed India’s position as the world’s second-largest mobile phone manufacturer, TOI noted.
“Our electronic production has grown six times in the last 11 years. Today, electronics manufacturing has touched Rs 12 lakh crore. Electronic exports have increased by eight times… Today, it has grown to Rs 3 lakh crore. India has become the second-largest manufacturer of mobile phones in the world,” Vaishnaw said, as quoted by TOI.
According to official data cited by TOI, India had only two mobile manufacturing units in 2014; today, there are over 300. Back in 2014-15, just 26% of mobile phones sold in India were made domestically, with the rest imported. Now, 99.2% of phones sold in the country are manufactured locally.
The Union Minster Jitin Prasada said to Lok Sabha earlier that the production linked incentive (PLI) scheme, which was meant mainly for mobile phone manufacturing, attracted a total investment of Rs 12,390 crore.
“The PLI Scheme for LSEM has already attracted a cumulative investment of INR 12,390 crore, led to a cumulative production of Rs 8,44,752 crore with exports of Rs 4,65,809 crore and generated additional employment of 1,30,330 (direct jobs) till Jun’25,” the minister said.
Minister further informed Parliament that the country’s mobile import demand decreased by 0.02 per cent in 2024-25, from an outstanding 75 per cent in 2014-15.
“PLI Scheme for Large Scale Electronics Manufacturing has significantly impacted the mobile manufacturing sector in India particularly in transforming India from a net importer to a net exporter of mobile phones. Bharat is now the second largest mobile manufacturing country in the world,” the minister said.
Minister Prasada informed that the PLI Scheme 2.0 for IT hardware has so far attracted a total investment of Rs 717.13 crore, resulting in cumulative production worth Rs 12,195.84 crore and the creation of 5,056 direct jobs as of June 2025.
He further stated that India received USD 4,071 million in foreign direct investment (FDI) in the electronics manufacturing sector over the past five years, starting from FY 2020-21. Of this, USD 2,802 million came from companies benefiting under the Ministry of Electronics and IT’s PLI scheme.
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al…Read More
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al… Read More
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