support@headlinenews360.com
NEW DELHI: Led by Apple’s iPhone, India’s mobile phone exports crossed Rs 2 lakh crore mark in fiscal 2024-25, growing by a strong 54% over the previous year. The share of iPhone in the exports stood at Rs 1.5 lakh crore, Union minister Ashwini Vaishnaw said on Tuesday as he forecast a doubling of electronics exports over the next five years. “Smartphones are now among the top exported goods out of India,” Vaishnaw said.
Apart from Apple, Samsung also exports smartphones out of India, and other companies include Motorola. Chinese players such as Vivo, Oppo, and Xiaomi – while being strong players within India – are still to get big on exports. The minister said that manufacturing of electronics increased more than five times in the last decade while exports moved up more than six times.
Vaishnaw also announced the rollout of the component scheme and guidelines, which aim at giving an incentive of Rs 22,919 crore to broaden the electronics manufacturing ecosystem. The scheme is expected to generate direct employment of around 1 lakh while boosting the value addition in the finished products. “We achieved value addition of about 20% and now aim to double this over the next five years.”
The minister said that the ecosystem for electronics manufacturing, including component manufacturing, increased in line with the growth in the industry. “More than 400 production units are there, small and big, which are manufacturing a variety of components.”
The govt aims to provide benefits under the Electronic Component Manufacturing Scheme for a period of six years starting April 1. “The electronic components supported under the scheme will go into consumer electronics, medical electronics, power electronics, automobiles, and practically in every technological product,” Vaishnaw said. Companies will be required to make cumulative investments in the range of Rs 10 crore to Rs 1,000 crore for turnover-linked incentive, and the incentive will range from 1% to 10%.
