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India: World's Smartphone Factory by 2025?
25 Feb
Summary
- India's smartphone exports are projected to reach $30 billion in 2025.
- Electronics exports have grown 11 times since 2014-15, now third largest.
- India is the world's second-largest mobile manufacturing country.
India is emerging as a global powerhouse in smartphone manufacturing, with Union Electronics and IT Minister Ashwini Vaishnaw projecting exports to hit $30 billion by the end of 2025. This surge signifies India's ambition to be the world's smartphone factory.
Electronics exports have demonstrated remarkable growth, increasing elevenfold since the 2014-15 fiscal year. This expansion has positioned electronics as India's third-largest export commodity, contributing significantly to job creation and economic development.
The nation is now the second-largest mobile manufacturing country globally. The number of mobile manufacturing units has escalated from just two in 2014-15 to approximately 300 currently. This growth underscores the success of the 'Make in India' campaign.
Government initiatives like the PLI Scheme have attracted substantial investment, boosting production and exports. Future efforts are focused on developing capacity for components and raw materials, further strengthening India's manufacturing ecosystem.
