India shipped $11.1bn electronics to international markets
Export have been boosted by Rs.3.20 lakh crore, supported by the Production Linked Incentive (PLI) scheme which disbursed around Rs.2,900 crores in FY 2022-23.
Of the US$101 billion total electronics production in FY 2022-23, smartphones constitute US$44 billion, including US$11.1 billion as exports, Ministry of Commerce and Industry said in its year-end review of the industry performances.
There has been a value addition of 20% in mobile manufacturing within a period of 3 years.
Over Rs.95,000 crore of investment reported till September 2023, which has led to production/sales of Rs.7.80 lakh crore, the Ministry said on 26 Dec 2023, adding that 746 applications have been approved for PLI till November 2023.
PLI units has been established in more than 150 districts (24 States).
Import substitution of 60% has been achieved in the Telecom sector and India has become almost self–reliant in Antennae, GPON (Gigabit Passive Optical Network) and CPE (Customer Premises Equipment).
Sixty-four companies have been selected under the Rs.6,238 crore PLI Scheme for White Goods (ACs and LED Lights).
Thirty-four companies have committed Rs.5,429 crore investment in Air Conditioner Components and 30 companies are to invest Rs.1,337 crore for LED Component Manufacturing.
Further investments of Rs.6,766 crore is envisaged, it added.
The net incremental production is expected to be more than Rs.1 lakh 23 thousand crore during the scheme period.
Thirteen Foreign Companies are investing Rs.2,090 crore under the scheme while 23 MSME applicants have committed investment of Rs.1,042 crore. Fiinews.com
