India's Smartphone Exports Hit Historic High: A Rs 2 Lakh Crore Milestone

India celebrates an exceptional achievement as smartphone exports surpass Rs 2 lakh crore in the fiscal year 2024-25. With a 54% growth over the previous year, Minister Ashwini Vaishnaw highlights the significant rise in electronics manufacturing and reveals plans for an Electronics Component Manufacturing Scheme.

In a landmark achievement, India's smartphone exports have crossed Rs 2 lakh crore in the fiscal year 2024-25, signaling a pivotal development in the nation's electronics sector. This was announced by the Minister of Electronics and Information Technology, Ashwini Vaishnaw, during a press conference on Tuesday.

Vaishnaw reported a remarkable 54% year-over-year growth, with iPhone exports contributing significantly at approximately Rs 1.5 lakh crore. India's electronics manufacturing has seen a sixfold increase over the past decade, illustrating the robust growth of the sector, aided by more than 400 diverse production units.

The minister also introduced the Electronics Component Manufacturing Scheme, backed by a Rs 22,919 crore initiative to enhance India's self-reliance in the electronics supply chain. The scheme aims to support the production of various components used across critical industries, promising a multiplier effect on the economy.

(With inputs from agencies.)