India's Electronics Transformation: Leaping Towards Global Leadership

India's electronics sector has dramatically transformed under PM Modi's leadership over the past decade. With electronics manufacturing quintupled and exports surging sixfold, a new government scheme is set to foster further growth. The sector's expansion is poised to enhance India's global economic presence and create substantial employment opportunities.

The Indian electronics sector has undergone a significant transformation in the past decade, as highlighted by Union Minister Ashwini Vaishnaw during a media briefing post-Cabinet meeting. Under Prime Minister Narendra Modi's leadership, electronics manufacturing in India has seen a fivefold increase, establishing the nation as a major hub for electronics production.

The minister also reported a sixfold surge in electronics exports, which now total approximately Rs 2.5 lakh crore. Electronics exports rank among India's top three export items. The advancement into manufacturing passive components is anticipated to boost employment levels further.

The Union Cabinet, led by Prime Minister Modi, recently approved a substantial funding initiative worth Rs 22,919 crore. This scheme aims to build a comprehensive electronics component ecosystem by attracting global and domestic investments. It is expected to generate direct and indirect employment while significantly enhancing India's participation in global value chains.

(With inputs from agencies.)