New Delhi, April 22 (IANS) Electronics exports from India has moved up from fifth position to third within one fiscal, owing to the transformative production-linked incentive (PLI) scheme, Union Minister Ashwini Vaishnaw said on Tuesday.
In a post on X social media platform, the minister said that electronics exports clocked an all-time high of Rs 3.27 lakh crore in FY25, with mobile exports standing at Rs 2 lakh crore.
“Electronics exports moves up from fifth position to third within one fiscal. Three years in a row, electronics is India’s fastest growing export amongst India’s top 10,” Vaishnaw informed.
He further stated that lakhs of new jobs have been created in the electronics ecosystem, especially for women, along with “skilling, increasing DVA and Indian MSMEs joining global supply chains”.
The electronics manufacturing industry has seen a five times growth in the last 10 years, surpassing Rs 11 lakh crore while the entire ecosystem has created 25 lakh jobs.
In the last decade, electronics exports have risen six times to surpass Rs 3.25 lakh crore.
In a historic achievement, smartphones emerged as India’s largest export category in the first 10 months of FY25 — marking a major success story under the government’s PLI scheme. In FY14, smartphones were ranked as India’s 167th export category — a sharp contrast to their number 1 position today.
The Union Minister also hailed hardware brands now lining up for India, as China stands to lose amid the ongoing trade tariff war with the US.
The PLI 2.0 scheme for IT Hardware saw more than Rs 10,000 crore production and 3,900 jobs in just 18 months of its launch, the government said in January this year. In a groundbreaking development for India’s electronics manufacturing sector, the production of laptops has started in the country.
Moreover, the electronics manufacturing sector has received a major boost with the government notifying the much-awaited ‘Electronics Component Manufacturing Scheme’ (ECMS).
The scheme marks a turning point for strengthening India’s component manufacturing ecosystem and increasing domestic value addition.
With a financial outlay of Rs 22,919 crore over six years, ECMS aims to generate production worth Rs 4.56 lakh crore, attract investments of Rs 59,350 crore and create nearly 91,600 direct jobs.
–IANS
na/
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by BhaskarLive.in and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of BhaskarLive.in We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, BhaskarLive.in takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
