Our Bureau
New Delhi
Indian smartphone manufacturing is making global strides, capturing significant market share in US and UK. According to recent trade data, Indian-made smartphones now hold 13.74% of the US market and 14.31% of the UK market, demonstrating India’s growing prominence as an electronics production hub.
In 2024, smartphone exports from India to the US reached $7.03 billion, a notable increase from $4.7 billion in 2023. Similarly, exports to the UK rose to $1.5 billion, up from $1.039 billion the previous year. Commerce Secretary Sunil Barthwal highlighted smartphone exports as a key sector under close monitoring.
Last week, Minister for Electronics and IT Ashwini Vaishnaw reported that total smartphone exports globally exceeded Rs 2 lakh crore in FY 2023-24, marking a 54% increase over the previous year. Apple’s iPhone exports alone surpassed Rs 1.5 lakh crore, with the sector employing nearly 25 lakh people in electronics manufacturing, according to Vaishnaw.
With substantial progress in finished goods production, India is now turning its attention to localizing electronics component manufacturing. Vaishnaw emphasized that after achieving success in finished goods, the next step is to focus on component manufacturing.
To support this shift, the Ministry of Electronics and Information Technology (MeitY) notified the Electronics Components Manufacturing Scheme on April 8. Vaishnaw explained that this scheme is designed as a horizontal initiative, providing benefits across various sectors, including consumer electronics, medical devices, automobiles, power electronics, and electrical grids, thereby creating a multiplier effect throughout the economy.
The scheme prioritizes the production of passive electronic components, which will receive direct support. Active components will continue to be covered under the India Semiconductor Mission (ISM). The initiative encompasses a wide array of passive components, including resistors, capacitors, connectors, inductors, speakers, relays, switches, oscillators, sensors, films, and lenses, underscoring the program’s comprehensive scope and ambition.
