Electronics manufacturing production increased four times in 10 years, mobile phone production will be this much by 2024

India's electronics manufacturing sector will grow by 15 per cent to $115 billion in 2024. Whereas the production of mobile phones, which has the highest share in electronics manufacturing, is expected to exceed $ 50 billion by March 2024.

In the last financial year, the production of mobile phones was about 42 billion dollars. According to data shared by the government, domestic electronics manufacturing has grown four times in the last 10 years to Rs 8.22 lakh crore ($102 billion).

In fiscal year 2014, this figure was Rs 1,80,454 crore ($29.8 billion). India Cellular and Electronics Association (CEA) President Pankaj Mohidru said that mobile phone exports could cross $15 billion (Rs 1.24 lakh crore) in the current financial year, which is more than 35 per cent compared to the last financial year. ICEA estimates that mobile phone sales have crossed $9 billion during the April to November period of the current financial year compared to $6.2 billion in the same period of the last financial year.

From April to November, exports of electronics also increased by 28 per cent to Rs 1,46,584 crore. During FY 2022-23, mobile phones accounted for $11.1 billion of the $23.6 billion electronics exports. Whereas out of the estimated $26 billion of electronics exports in the financial year 2023-24, mobile phone exports are expected to reach $15 billion. This year, mobile phone exports are estimated to account for about 58 per cent of total electronics exports in the fiscal year 2023-24, compared to about 47 per cent in the previous fiscal year, ICEA said.