Indian Electronics to be $300 Billion Industry by 2025
06 November 2021: Inspired by the Prime Minister’s vision to increase exports and India’s share in global supply chains “Local Goes Global”, the Ministry of Electronics & Information Technology today released Volume-I of Vision Document on “Increasing India’s Electronics Exports and Share in GVCs”. This comes as a part of MeiTY’s Vision 1000 Days that sets a target of achieving $1 Trillion Digital Economy for Atmanirbhar Bharat.
The Vision document (Volume-I) focuses on the opportunities and key inputs to increase India’s share in the Global Value Chain and build large-scale manufacturing capabilities to achieve a substantial share in global electronics export. It has been prepared by Indian Cellular Electronics Association (ICEA) in consultation with the industry. The Vision Document is a call to action which analyses the challenges and outlines key success factors for increasing electronics exports, while benchmarking against competing nations. It makes recommendations to increase scale, competitiveness and domestic value addition over the next 1,000 days.
Addressing the event and speaking about the transformation of electronics manufacturing space after pandemic, Rajeev Chandrasekhar said that post covid world represents coming together of many things/elements including the renewed confidence under visionary leadership of Prime Minister Narendra Modi, policy making, investments, jobs and a strong preference for trust in Global Value Chains. These together present an unprecedented – never before opportunity for India in Electronics Sector. He further said that the industry needs to focus on expanding product categories which can serve new markets and new types of consumers.
The push for the ESDM sector is preceded by India emerging as the 2nd largest manufacturer of Mobile handsets in the world in volume terms, producing 30 crore handsets (2020-21) as against 6 crore handsets in 2014-15. Over 200 units are manufacturing cellular mobile phones and parts in the country which is up from only 2 units in 2014. Production of mobile handsets has grown from INR 19,000 crore in 2014-15 to 2,20,000 crore in 2020-21. This has given a significant boost to the sector and to the vision of achieving self reliance under the Atma Nirbhar Bharat.
