In a recent social media announcement, Electronics and IT Minister Ashwini Vaishnaw highlighted India's exceptional strides in mobile and electronics manufacturing over the past decade. From a modest beginning of just two mobile manufacturing units in 2014, the country has now burgeoned to host over 300 such units, marking a significant expansion in the sector.
Mr. Vaishnaw underscored the impressive financial growth of the mobile phone manufacturing industry, citing a substantial rise from ₹18,900 crore in the financial year 2014 to a staggering ₹4,22,000 crore in FY 2024. This exponential growth not only reflects the sector's robust development but also underscores India's emergence as a key player in global electronics manufacturing.
Highlighting another milestone, the minister pointed out that exports from the sector have crossed ₹1,29,000 crore, further cementing India's position as a significant exporter of mobile phones and electronics products worldwide.
One of the most noteworthy impacts of this growth has been the generation of employment opportunities. Mr. Vaishnaw emphasized that mobile phone manufacturing alone has contributed to the creation of 12 lakh direct and indirect jobs over the past decade. This surge in employment not only supports the government's ambitious Make in India initiative but also fuels economic growth and enhances self-reliance in the manufacturing sector.
The Make in India program, launched to promote indigenous manufacturing and reduce dependency on imports, has played a pivotal role in this success story. By fostering a conducive environment for manufacturing and incentivizing production, the initiative has spurred domestic production capacities and bolstered job creation across various segments of the electronics industry.
India's journey in mobile and electronics manufacturing stands as a testament to its growing prowess in the global market. As the sector continues to expand, supported by government policies and industry initiatives, it is poised to contribute even more significantly to the nation's economic growth and technological advancement in the years to come.
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