Indian Economy News

Electronics manufacturing has grown sixfold, and exports have grown eightfold in the last 11 years

Over the past 10 years, the electronics and semiconductor industry in India has seen rapid growth due to government initiatives such as "Aatma Nirbhar Bharat" and "Make in India". These efforts have led to a nearly sixfold increase in the overall size of the Indian electronics manufacturing sector from Rs. 1.9 lakh crore (US$ 22.8 billion) in 2014-15 to Rs. 11.32 lakh crore (US$ 136 billion) in 2024-25 as a result of the introduction of various PLI schemes; tax reforms, customs reforms, and other ecosystem development activities. In addition to this remarkable growth in total manufacturing, mobile device manufacturing has also increased significantly during this period. The number of local manufacturers increased from just two in 2010 to over 300 in 2020. As part of the PLI scheme for "Large Scale Electronics Manufacturing", mobile device manufacturing increased from Rs. 2.2 lakh crore (US$ 26.4 billion) in 2020-21 to Rs. 5.5 lakh crore (US$ 66.1 billion). Before 2020, electronics exports also grew significantly during the same period, increasing from Rs. 38,000 crore (US$ 4.56 billion) in 2014-15 to Rs. 3.26 lakh crore (US$ 39.2 billion) in 2024-25, thereby making electronics the 3rd-largest export category for India.

To bolster domestic value addition, the Government of India introduced the Electronics Components Manufacturing Scheme (ECMS) in 2025. This has already generated proposals with an estimated aggregate potential of Rs 1.15 lakh crore (US$ 13.8 billion) compared to a projected total function investment of approx. Rs 59,350 Crore (US$ 7.1 billion). Also, India has an ambitious Semiconductor ecosystem that is rapidly developing, with the launch of the Semicon India Programme.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.