India will emerge as a major player across the entire electronics stack, says Union IT Minister Ashwini Vaishnaw.
India : “Bharat” will become a major participant in the complete electronics stack, including design, production, operating systems, apps, materials, and equipment, according to Union Electronics and IT Minister Ashwini Vaishnaw on Monday.
The minister stated in an X post that Apple will sell $50 billion worth of mobile phones in 2025, marking a significant milestone for Prime Minister Narendra Modi’s “Make in India” initiative and “our quest to become a producer economy.”
Over the past 11 years, the production of electronics has increased six times. Additionally, under PM Modi’s determined leadership, exports of electronics have increased eightfold. As a result of this development, electronics are now among the top three exported goods, according to Vaishnaw.
He went on to say that 46 component manufacturing projects, laptop, server, and wearable businesses are expanding the ecosystem and making electronics manufacturing a significant contributor to the manufacturing economy.
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This year, four semiconductor facilities will begin commercial production. There are currently 25 lakh employment in the electronics manufacturing sector, with some companies housing over 5,000 workers in one area. The minister stated that “this is just the beginning” and that some plants employ up to 40,000 people in a single site.
The government’s approval of 22 new proposals under the Electronics Components Manufacturing Scheme (ECMS) third tranche last week was warmly received by the industry, which said it represents a significant turning point in India’s progress towards deep manufacturing and the development of internationally competitive Indian champions in electronics components.
By doing this, there are now 46 ECMS-approved projects overall, bringing the total amount of permitted investments to nearly Rs 54,500 crore. Seven projects totaling Rs 5,532 crore and seventeen projects totaling Rs 7,172 crore were authorized in earlier tranches on October 22 and November 17, respectively. The quick scale-up across tranches demonstrates the robust industry reaction and the rising trust in India’s plan for component manufacture.
The 22 projects authorized in the third tranche are anticipated to produce Rs 2,58,152 crore and create 33,791 direct jobs, according to the IT Ministry.