Electronics Production Valued at ₹6.4 Lakh Crore in FY22: MoS IT

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The minister said that a total of 333 companies have received direct benefits under the NPE 2019.

Production of electronics goods rose to ₹6.4 lakh crore in value while exports from the sector reached an all-time high of ₹1.09 lakh crore in FY22, Minister of State for Electronics and IT Rajeev Chandrasekhar informed the Parliament last week.

The production of electronics goods was over ₹5.44 lakh crore in FY21 and exports of electronics goods amounted to ₹81,822 crore based on data sourced from industry associations and the Directorate General of Commercial Intelligence and Statistics, reported PTI.

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The minister told the Lok Sabha, “At this juncture, National Policy on Electronics 2019 (NPE 2019) envisions positioning India as a global hub for Electronics System Design and Manufacturing (ESDM) by encouraging and driving capabilities in the country for developing core components, including chipsets, and creating an enabling environment for the industry to compete globally.”

The NPE 2019 aims to achieve a turnover of ₹26 lakh crore by 2025. This includes a targeted production of 100 crore mobile handsets by 2025, valued at approximately ₹13 lakh crore, including 60 crore mobile handsets valued at ₹7 lakh crore for export.

The policy aims to provide a special package of incentives for mega, high-tech projects which entail huge investments such as semiconductor facilities display fabrication. Chandrashekhar told the Lok Sabha that a total of 333 companies have received direct benefits of various schemes and programmes under the ‘Make in India’ programme, to create an eco-system for the development of the ESDM Sector in the entire country.


 

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Yashasvini Razdan
Yashasvini Razdan
Yashasvini Razdan is a journalist at EFY. She has the rare ability to write both on tech and business aspects of electronics, thanks to an insatiable thirst to know all about technology. Driven by curiosity, she collects hard facts and wields the power of her pen to simplify and disseminate information.

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