India’s electronics sector has emerged as the fastest-growing segment in the country’s export portfolio, driven by new manufacturing capacities and the success of the government’s production-linked incentive (PLI) scheme. In the period from April to November 2024, electronics exports surged 27.4%, reaching USD 22.5 billion, up from USD 17.66 billion during the same period in 2023.
As a result, electronics have moved up to third place among India’s top export categories, following engineering products and petroleum, compared to sixth place last year.
Smartphones have played a major role in this growth, with a 45% increase in exports. Key players such as Apple and Samsung have expanded their production operations in India, supported by local vendors like Foxconn, Pegatron, and Tata Electronics. The PLI scheme and streamlined government clearances have encouraged global companies to establish alternative supply chains outside China, further boosting smartphone exports. Additionally, exports of consumer electronics, solar modules, desktops, and routers have also shown significant growth.
Looking ahead, electronics exports are expected to continue their upward trajectory, with semiconductor manufacturing capacities now being established in India. Recently, the Union Cabinet approved a proposal for Kaynes Semicon to set up a semiconductor unit in Sanand, Gujarat, with an investment of Rs 3,307 crore. This marks the fifth semiconductor unit approved under the India Semiconductor Mission (ISM), bringing the total investment under the initiative to Rs 1,52,307 crore (approximately USD 18.15 billion).
India’s electronics manufacturing reached a milestone in March 2024, crossing the USD 100 billion mark, up from USD 49 billion in 2017, highlighting the industry’s rapid growth.
Explore comprehensive supply chain news at The Supply Chain Report. Those interested in international trade can visit ADAMftd.com for free tools.
#IndiaExports #ElectronicsGrowth #SmartphoneExports #ManufacturingInIndia #ElectronicsSector
