The electronics industry is currently at around $115 billion and global value chains (GVCs) will be key to boosting production and exports from the country, said Pankaj Mohindroo, ICEA Chairman.
According to Mohindroo, the remarkable growth in mobile phone manufacturing which has reached 50 billion over the last decade, has laid the foundation for a robust growth in overall electronics.
India, which is now the fifth largest export nation for mobile phones as an individual commodity, would have faced a hefty import bill of more than Rs 14.3 lakh crore, had it not achieved self-sufficiency in the last 10 years.
Since 2014, the cumulative exports of mobile phones have reached a total estimate of Rs 3,22,048 crore, according to the India Cellular and Electronics Association (ICEA).
The total production of electronic goods in India in FY23-24 is likely to reach $115 billion, buoyed by mobile phones’ local production which is estimated to exceed $50 billion in the current fiscal year, said the India Cellular and Electronics Association (ICEA) on Sunday.
The India Cellular and Electronics Association (ICEA) has written a letter to the IT Ministry, requesting the government to rethink…
This year, smartphones are the fifth highest exported product from India and has crossed Rs 1 lakh crore in our 'Techade' that will certainly see the country as a major player in global electronics in years to come, says Rajeev Chandrasekhar, Union Minister of State for Electronics and IT.
Mobile manufacturers on Friday requested the government to come up with policies that focus on competition with countries and not companies.
Mobile phone is the highest contributor in the segment comprising 35 per cent of the value with an export value of Rs 3,061 crore which is 50 per cent higher than December 2019.
The industry body in its letter highlighted that it is equally important as other essential services like telecom, internet, broadcast, IT services and others.
