Union Electronics and IT Minister Ashwini Vaishnaw expressed confidence in India’s potential to excel in the entire electronics domain, including design, manufacturing, operating systems, applications, materials, and equipment. He highlighted a significant achievement where Apple is projected to ship mobile phones worth $50 billion by 2025, a testament to the success of the ‘Make in India’ initiative and the country’s transition to a producer economy under PM Modi’s leadership. Vaishnaw emphasized the substantial growth in electronics production, which has increased sixfold in the last 11 years, with exports witnessing an eightfold surge, positioning electronic goods among the top three exported items.
Adding to the robust ecosystem, the minister mentioned the establishment of 46 component manufacturing projects, along with the emergence of laptop, server, and hearable manufacturers, indicating a shift towards electronics manufacturing as a key driver of the country’s manufacturing economy. He also disclosed plans for four semiconductor plants to commence commercial operations this year, contributing to the current employment of 25 lakh individuals in the electronics manufacturing sector, with some facilities accommodating up to 40,000 employees at a single location, signifying the sector’s growth potential.
Recently, the government approved 22 new proposals under the Electronics Components Manufacturing Scheme (ECMS), marking a pivotal moment in India’s journey towards bolstering deep manufacturing capabilities and fostering globally competitive Indian players in the electronics components sector. This development brings the total number of ECMS-approved projects to 46, with cumulative investments exceeding Rs 54,500 crore. The industry has lauded this move, highlighting the industry’s positive response and increasing confidence in India’s vision for components manufacturing.
The third tranche approval of 22 projects is anticipated to generate production valued at Rs 2,58,152 crore and create approximately 33,791 direct job opportunities, as per the IT Ministry’s projections.
