Indian electronics production is likely to reach $250 billion in the next 5 years

Electronics manufacturing in India, job creation likely to double

Electronics production in India is likely to reach approx 250 billion dollars in the next five years– according to media reports.

Currently, electronic export the country stands $125–130 billion.

The government also plans to solve the problem of unemployment, among others: job creation in the electronics production sector. Currently, 25 million people are employed in this sector.

The government intends to do this over the next five years double – according to media reports – the number of jobs in the industry.

According to Invest Indiatechnological changes such as the rollout of 5G networks and IoT (Internet of Things) are driving accelerated adoption of electronic products.

“Initiatives like”Digital India‘And’Smart cityprojects have increased the demand for IoT in electronic devices market and will undoubtedly usher in a new era of electronic products,” it was mentioned.

Currently, India’s domestic production has grown at a CAGR of 13 percent With $49 billion in FY17 to $101 billion in FY23.

In April 2024, exports of electronic goods were recorded at $2.65 billion compared to $2.10 billion as per Invest India data in April 2023, registering a growth of 25.80%.

The production of mobile phones has increased since Rs 18,900 crore in 2014-15 to the estimated one 4.10 lakh crore in FY24, registering a growth of 2,000 per cent, according to apex electronics industry body India Cellular and Electronics Association (ICEA).

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