Domestic electronics manufacturing up 4-fold to Rs 8.22 lakh cr in FY23: MoS IT

New Delhi: Domestic electronics manufacturing increased over 4-fold to Rs 8.22 lakh crore in the last 10 years, Parliament was informed on Wednesday.

Minister of State for Electronics and IT Rajeev Chandrasekhar informed the Lok Sabha that India has now reached a stage where 99.2 per cent of mobile handsets being used in the country are manufactured domestically, and from being an importer in the segment, the country has now become an exporter.

"In FY 2013-14 the electronics manufacturing was Rs 1,80,454 crore (USD 29.8 billion) and has grown significantly to Rs 8,22,350 crore (USD 102 billion)in FY 2022-23, which is further expected to grow up to Rs 23,95,195 crore (USD 300 billion) by 2026," the minister said.

He said the country exported mobile phones worth USD 11.1 billion in financial year 2022-23.

"We have become a mobile exporting country with USD 11.1 billion exports in FY 2022-23 as compared to a mobile importing country in 2014-15 when almost 74 per cent of all mobile phones sold in India were imported," Chandrasekhar said.

He said that around 2.5 million (25 lakh) direct and indirect jobs have been created in the electronics sector and is expected to reach 10 million (1 crore) jobs by 2025-26 as per industry estimates.